Blockchain Startup Ubitquity, ChromaWay Partner On Real Estate Solutions

Blockchain, News | July 12, 2018 By:

Blockchain real estate startup Ubitquity has partnered with blockchain firm ChromaWay to build and support applications on its platform.

Ubitquity is a company headquartered in Delaware which makes a Software-as-a-Service (SaaS) platform using blockchain technology. The SaaS platform, which utilizes blockchain and off-blockchain data storage, 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. Last year, the company launched Ubitquity Labs, an innovation division, to build innovate projects, build prototypes, and experiment without affecting the firm’s production stack.

Founded in 2014, ChromaWay provides a platform for smart contracts and issuing/transferring assets through a blockchain. ChromaWay has been working with the Swedish Land Registry and other institutions and financial companies to provide smart contract solutions for the real estate field. Last year, ChromaWay developed Postchain, a consortium database that combines the power and flexibility of mature database systems with the secure collaboration and disruptive potential of blockchain.

Under the agreement, Ubitquity will be adding the Postchain software to its list of supported chains in order to continue delivering seamless blockchain agnostic experience to its customers. ChromaWay will also collaborate with public and private sector stakeholders in the real estate and finance sectors to create blockchain solutions.

“Our belief is that through this mutually beneficial relationship, ChromaWay’s infrastructure as an option for customers in addition to our existing bitcoin, ethereum, Hyperledger, and MultiChain UTXO blockchains as well as joint marketing will be the key to our global success,“ said Nathan Wosnack, Ubitquity Founder, President and CEO. “Ubitquity and ChromaWay’s cooperation will go beyond marketing and infrastructure, however. Our goal is to help in build interoperable technology for the municipalities and clients we serve.”

The Postchain software works together with the most widely used database systems. This means that with Postchain, a blockchain solution can be implemented by an SQL developer.

“We are extremely excited to be partnering with Ubitquity, as we believe that Postchain can provide a more secure, faster and more efficient solution to traditional databases,” said Or Perelman, co-founder and COO of ChromaWay. “Our solution, combined with Ubitquity’s technology, can develop future projects for real-estate on the blockchain.”