Lien Alert joins Ubitquity’s platform of blockchain-powered solutions for real estate and title professionals.
Ubitquity LLC, the first enterprise-ready blockchain-secured platform for real estate and title recordkeeping, is pleased to announce that it is launching Lien Alert, a blockchain-powered monitoring suite that allows lenders to be alerted to a lien placed against them, giving them a tool to protect their credit and prevent fraud.
The placement of wrongful, invalid, or fraudulent liens is a growing concern in the United States and Canada. While some wrongful or invalid liens placed against individuals or businesses are due to administrative oversight, outright lien fraud is a new favorite with identity thieves and crooks. An undetected fraudulent lien can cost an individual thousands of dollars to resolve, and, in a worst case scenario, could result in property seizure.
“There are hundreds, if not thousands, of cases of fraud involving liens and identity theft in North America every year” said Nathan Wosnack, Founder and CEO of Ubitquity. “The strength of blockchain’s immutable ledger, along with rapid database scanning, as well as industry and government cooperation, is the key to preventing this in the future.”
The Lien Alert website is at https://www.ubitquity.io/lienalert and is now accepting pre-sign ups in anticipation of its 2019 release.
The Ubitquity SaaS Platform and its API, which compliments its existing platform launched in March 2016, utilizes blockchain and off-blockchain data storage. This enables users to ensure the authenticity of information related to the land or property in question, in particular its current ownership and all the 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.
About Ubitquity LLC
UBITQUITY, the first enterprise ready blockchain-secured platform for real estate recordkeeping, offers a simple user experience for securely recording and tracking property deeds and land records. The company is partnered with academia, municipalities, and title companies. 2.0 RC (Release Candidate) version of their platform is now available at www.ubitquity.io.
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