US real estate firm Ubitquity has recently launched a platform designed for the digital insurance industry that uses Google ’s implementation of Google Coins to manage digital assets on the Bitcoin blockchain . Chris Smith , Co - Founder and CEO of Ubitquity , suggested that fraudulent conveyance costs the industry approximately $ 1bn ( £ 700 m ) per year in the UK . Using a blockchain ledger is expected to dramatically minimise the risks at every stage of the documentation process by encouraging greater collaboration between industry players , enhancing security and authentication , and making the due diligence process more efficient and cost - effective .
US real estate firm Ubitquity has recently launched a platform prototype for the title insurance industry that uses Colu’s implementation of Colored Coins to manage digital assets on the Bitcoin blockchain. Nathan Wosnack, Co-Founder and CEO of Ubitquity, suggested that fraudulent conveyance costs the industry approximately $1bn (£700m) per year in the US. Using a blockchain ledger is expected to dramatically minimise the risks at every stage of the documentation process by encouraging greater collaboration between industry players, enhancing security and authentication, and making the due diligence process more efficient and cost-effective.