OCL integrates Polymesh to modernize Florida’s real estate sector, combining blockchain with AI-driven title verification and monitoring to enhance security and transparency in property transactions.
The Polymesh Association is pleased to announce an upcoming integration with On Chain Listings, Inc. (OCL), a real estate platform specializing in property title verification, monitoring, and transfers. This collaboration, supported by a grant from the Polymesh Association’s Ecosystem Development Fund, aims to transform the real estate industry and reduce property fraud through the innovative use of Polymesh’s purpose-built blockchain technology.
Traditional methods of property title verification have proven to be both costly and slow, involving numerous intermediaries and extensive bureaucracy. By automating the process of reading a mass amount of public records, OCL’s solution can provide near-instant title verification, and active monitoring of a property's title in a more efficient, secure and cost-effective offering.
The OCL platform is the first to create a decentralized and digitized land registry, bringing unprecedented transparency and efficiency. With this technology, investors and homeowners can access in-depth "Rapid Reports" within moments and at a fraction of the cost and time compared to the nearest competitors.
Artificial intelligence quickly extracts and consolidates property title information from diverse sources, making verification and monitoring effortless. This process is further enhanced by storing the property titles on the Polymesh blockchain, where the ledger’s immutability and transparency strengthen the security and validation of property title ownership and records.
OCL possesses a utility patent for conducting the first onchain title transfer, indicating its pioneering role in advancing property technology and commitment to modernizing the real estate industry. OCL’s platform will benefit homeowners, lenders, brokers, and investors alike by making it easier to detect unauthorized loans or sales attempts of properties, track changes in ownership or asset status, and perform real estate transactions.
“OCL has partnered with Polymesh to leverage the technology needed to confidently digitize land titles. Thanks to this partnership we are able to completely innovate the real estate market, cutting out unnecessary fees and gatekeepers” says Ori Ohayon, President and Founder of OCL. “With this application of Polymesh, OCL is able to create a digital land registry, ensuring the absolute authenticity of property titles and allowing for a streamlined transfer process.”
OCL currently operates in Florida, the U.S. state most subjected to property fraud, where over half of real estate professionals in Florida reportedly experienced property deed fraud firsthand in 2023. This type of fraud commonly involves identity theft to transfer a property’s title into a fraudster’s name, enabling them to sell the property or use its equity as collateral on a loan. By working closely with government agencies, homeowners, and real estate professionals, OCL will help prevent and combat property deed fraud through streamlined title verification and monitoring in Miami and other cities before eventually expanding nationwide.
“The Polymesh Association is thrilled to support OCL through our Ecosystem Development Fund. This integration showcases the strong use case for real estate tokenization on Polymesh, setting new standards for efficiency, security, and transparency in one of the largest asset classes,” says Bill Papp, Chief Executive Officer at the Polymesh Association. “We believe that OCL’s innovative approach will significantly benefit the real estate industry and its stakeholders, as well as bolster Polymesh’s reputation as the premier infrastructure underlying real world asset transactions.”
The Polymesh Association’s Ecosystem Development Fund offers grants to businesses integrating Polymesh into projects of value to the ecosystem, including closed-source technology that promises to expand the network through onboarding new users or issuing new assets. OCL is one of several white-label real estate platforms integrating Polymesh, signifying a growing trend of utilizing blockchain technology to transform real estate transactions and set a new standard for digital property management.
OCL is reshaping the real estate title market with revolutionary solutions! Specializing in digitized Lien and Title Search, we deliver precise data at lightning speed and massive cost savings.
Post-report, our daily, active monitoring system swiftly identifies and flags potential fraud, ensuring your property title is safeguarded.
Say goodbye to the conventional - our streamlined, digitized approach transforms title transfers from listing to closing, revolutionizing the entire process. Backed by a dynamic team of legal and title experts, OCL is not just innovative; we're disruptive. Experience real estate like never before – let OCL be your digital key to the physical world!
Visit https://onchainlistings.com/ to learn more.
The Polymesh Association is a not-for-profit dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises.
Visit polymesh.network to learn more.