Technology
Technology offer for several improvements to property. In this section we look at how technology can improve various aspects of the property.
Shared Contracts
Whilst the buyer and vender's solicitors represent their own clients respectively. There is no need for contracts to be sent backwards and forwards. Contracts can be shared within the same system reducing the timeline of accessing contracts and raising enquiries.
Onboarding
Digital technologies are already improving many aspects of conveyancing. Modern
technology has introduced effective solutions integrating AML and KYC solutions
that can effectively establish a person’s identity and their source of funds.
Property Reports
Creating templates to build timely compliant property reports that are easily understood by all participants.
Smart Contracts
Working towards contracts that are time specific and fully contractional. Where both
parties are committed to exchange of contracts providing all information is accurate.
Integration with other professionals
Building systems that can be accessed by all property participants to create a more integrated system. For example, KYC can be shared with the lender and solicitors removing duplication and bottlenecks in the process.
Tokenization
Creating solutions to allow partial ownership in a way that is not possible under current methods.
NFT’s
Working with the government to create NFTs where property deeds can be held on the blockchain in a similar way to cars for logbooks.