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[+] Please don't call me if you are from India - R Braun/VA (11 replies)
12/21/2018 8:48:24 AM (2995 views)

[+] Progressive Title or Pro Title in Ar. - Ricky Gill/MS (21 replies)
12/20/2018 9:20:05 AM (3289 views)

[+] Comment on "Realtors® Reassert Role as Leader in Blockchain Technology Education" - Source of Title/OH (9 replies)
12/17/2018 11:14:32 AM (2342 views)

[+] Title services Online & Offline Orders - $8 - Ravi Mangalagiri/VA (7 replies)
12/17/2018 9:26:40 AM (2959 views)

[+] Fast Track Title Abstracting LLC - Non-Payer - Kevin Williams/IL (8 replies)
12/14/2018 9:51:44 AM (2358 views)




[+] Real T Solutions - Jay Duncan/MO (8 replies)
12/12/2018 4:15:27 PM (2502 views)

Lost Soles - Larry Platt/PA
12/11/2018 5:48:49 PM (2129 views)

[+] How to avoid non payment (for the 4th time) - sam r/FL (3 replies)
12/11/2018 11:21:49 AM (2344 views)

[+] NAW doesn't pay! - Tracey Hicks/NY (1 reply)
12/10/2018 7:19:35 PM (2288 views)

[-] Comment on "First American Launches Blockchain System" - Source of Title/OH (10 replies)
12/3/2018 10:28:50 AM (2838 views)
First American Launches Blockchain - Carol Clark/NY
12/3/2018 10:28:50 AM (5201 views)
Re: First American Launches Blockchain - F P/VA
12/3/2018 9:53:16 PM (4918 views)
Re: First American Launches Blockchain - Jeffrey Land/NJ
12/10/2018 10:30:16 AM (4374 views)

First American is going to have to first convince the various legislatures that it is in their best interests to turn over their land records recording business to private industry.  This technology, not only puts abstractors out of work, it also gets rid of recording offices.  Recording offices with their recording fees and transfer taxes are a major source of revenue for local and state governments.  If you thought the war over MERS Assignments of Mortgages was something, wait until you see the chorus of elected officials when their revenue source is attacked.   If First American fails at getting rid of recording offices, then all block chain becomes is an expensive parallel electronic filing cabinet, which may or may not be a good substitute for the public record.  The courts would then have to chose which set of records to believe when the challenges to title begin to flood the court dockets.    

When blockchain was unveiled as a currency a few years ago, it was going to replace cash and credit cards, but now that the trading price of bitcoin is a fraction of what it was at that point, that sort of talk has been getting quieter.  I suspect blockchain for titles will as well.  Like bitcoin, it will become the currency  of choice for people hijacking computer systems, and general international electronic fraud. The consumer is not going to be too well protected once the first fraudulent title hits the Internet and becomes a permanent chain of title.   It is a shame to see a major international underwriter become involved in such an undertaking.  One would have thought they would have been more circumspect.  

 

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Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/10/2018 11:42:18 AM (4429 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 9:44:29 AM (5617 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 10:16:16 AM (4100 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 10:26:10 AM (4093 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:25:24 AM (4148 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 11:36:33 AM (4113 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:19:42 AM (4022 views)

[+] Real Title Services - Back 40 Real Estate Services Donna Sligh-Smith/AL (13 replies)
11/29/2018 8:57:29 AM (3117 views)

[+] Applied Technology Resources - David Kossman/MO (8 replies)
11/19/2018 10:36:19 AM (2926 views)

NC Bar's Watchdog Committee on UPL - JENNIFER MICHAELS/NC
11/12/2018 3:59:09 PM (1959 views)

[+] Souther Land & Title - Susan Raynard/MA (14 replies)
11/12/2018 7:27:31 AM (3113 views)

[+] Fannie Mae problem - kim mcadams/GA (2 replies)
11/11/2018 7:47:40 PM (2373 views)


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