Ubitquity, the blockchain-powered real estate has undertaken the first real estate property ownership transfer using the cryptocurrency technology.According to the company they conducted the transaction through the Colu Coloured Coins protocol.In 2015, the company tasked themselves with creating a platform as a proof of concept using the blockchain, and by the beginning of 2016, Ubitquity had created a basic user interface allowing users to test the system and record real estate on the blockchain.In a statement, Nathan Wosnack, founder & CEO of Ubitquity said that by utilizing the blockchain it reduced the possibility of fraud which is often possible on centralized systems that are error-prone and can be manipulated easily.
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