Is Blockchain the Future of Fraud Prevention in PropTech Industry?

Key Takeaways:

• Veritable Data Solutions is a PropTech startup based in Granada Hills, California, that harnesses blockchain and ID verification technology to fight fraud.
• Through their Veri-Lock Electronic Notary Journal & under-development construction app, they not only protect notaries and signers but also assist city building inspectors in preventing forged documents.
• Blockchain technology is proving to be a major disruptor in the current PropTech landscape, especially in fraud prevention. Veritable Data Solutions is providing one such compelling example of this transition.
• Their solution TitleShield, which alerts homeowners of any unwarranted changes in their property title, is revolutionizing property monitoring and protection.

The rising number of fraud cases in the PropTech industry has led to an increased demand for robust technology solutions that mitigate such risks. Step in, Veritable Data Solutions. Founded by Allan Martia and David Fleck, the startup is working towards combating the menace of property fraud, identity theft, and more. They are utilizing the power of blockchain and ID verification technology for this purpose, thereby adding an extra layer of security to the entire process.

Their revolutionary mobile app, Veri-Lock, is designed to be used by notaries ensuring the authenticity of documents and mitigating the risk of fraud. On the other hand, their in-progress construction app aims to aid city building inspectors in the prevention of forged engineering and architectural documents. All these impressive strides reflect how Veritable Data Solutions is truly innovating the PropTech space.

The differential factor for Veritable Data Solutions is their use of advanced technology like blockchain to add security to the property dealings, and identity verification to secure transactions. This shows their commitment to integrating advanced technology in practical solutions aimed at solving real-world problems, which is beneficial for the PropTech industry. Their application, Veri-lock, acts as the first line of defense against identity theft and forgery, which is a common problem in property transactions.

Besides, their solution, TitleShield, has added a new dimension to the domain of property fraud prevention. By actively monitoring property owners’ title history and instantly acting upon any suspicious changes, they have revolutionized property monitoring and protection event before the advent of any potential threat.

Looking ahead, Veritable Data Solutions is expected to continue its growth trajectory and further disrupt the PropTech sector. With Blockchain technology presenting enormous potential for secure property transactions, the future seems extremely bright for this startup. As Veritable Data Solutions consistently uses these technological advancements to their advantage, they are paving a path for the PropTech industry, where fraud becomes a thing of the past.

For more information about Veritable Data Solutions, visit their website, VeritableData.com, or connect with them on social media through Twitter, Facebook, and LinkedIn.