Ubitquity, an enterprise-ready blockchain-secured platform for real estate and title recordkeeping, today announced a new use-case for bringing blockchain-powered title and record management to South East Asia via the company E-Title Cambodia.
The system will allow for purchasers of property to check the status of titles, load data, and use smart contracts for the property conveyance process. In addition, Ubitquity is building a Car Park management system for solving Cambodia’s condominium parking lot dilemma of defining ownership.
Via a token product, tenants will be able to stake a claim of ownership on their parking lot or assign it to someone else via a smart contract.
“We are excited to be leading this project, which demonstrates the flexibility and adaptability of Ubitquity’s platform. After rolling out our highly successful platform to clients in the aviation title industry, real estate, and abstracting companies in the United States, this new market we are looking forward to taking on.”
– Nathan Wosnack, Founder and CEO of Ubitquity
Ubitquity SaaS Platform
The Ubitquity SaaS Platform and its API utilizes blockchain and off-blockchain data storage. This enables users to ensure the authenticity of information related to the land or property in question, including current ownership and all historical transactions. In addition, the non-encrypted metadata regarding transactions, among other contents of all the formulas, are stored in a centralized database, with encrypted decentralized storage (via StorJ, IPFS) for clients who require it.
“We believe that Blockchain will play a big role in the future of real estate and title. As such we are investing in the technology as we believe it’s going to bring big benefits to the real estate development business especially in emerging markets like Cambodia.
– Sam Yeung, CEO of E-Title Cambodia