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 . The system uses Colu's implementation of Coloured Coins to manage digital assets on the Bitcoin blockchain. 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 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 .