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Boomerang Direct - Suzi Wallace/CA
1/8/2019 10:28:35 PM (1419 views)

[+] When is an Invoice Unreasonably Delinquent? - Carl Litchfield/SC (10 replies)
12/31/2018 10:53:42 AM (2143 views)

[+] STERLING TITLE non-payment - Aaron  Kosola/MN (2 replies)
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[+] Who runs DX Title? Kevin WIlliams or Parthiban Paramasivam? - David Bloys/TX (10 replies)
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[+] Please don't call me if you are from India - R Braun/VA (11 replies)
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[+] Progressive Title or Pro Title in Ar. - Ricky Gill/MS (21 replies)
12/20/2018 9:20:05 AM (2898 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 (1949 views)

[+] Title services Online & Offline Orders - $8 - Ravi Mangalagiri/VA (7 replies)
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[+] How to avoid non payment (for the 4th time) - sam r/FL (3 replies)
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[+] NAW doesn't pay! - Tracey Hicks/NY (1 reply)
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[-] Comment on "First American Launches Blockchain System" - Source of Title/OH (10 replies)
12/3/2018 10:28:50 AM (2463 views)
First American Launches Blockchain - Carol Clark/NY
12/3/2018 10:28:50 AM (4241 views)
Re: First American Launches Blockchain - F P/VA
12/3/2018 9:53:16 PM (3982 views)
Re: First American Launches Blockchain - Jeffrey Land/NJ
12/10/2018 10:30:16 AM (3393 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 (3451 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 9:44:29 AM (4589 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 10:16:16 AM (3143 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 10:26:10 AM (3105 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:25:24 AM (3223 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 11:36:33 AM (3166 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:19:42 AM (3107 views)

[+] Real Title Services - Back 40 Real Estate Services Donna Sligh-Smith/AL (13 replies)
11/29/2018 8:57:29 AM (2744 views)


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