Today DLT startup
Coadjute announced a deal with Natwest Bank to enable the bank’s clients to monitor the house buying process through an app that leverages blockchain data. Joining the two firms in a consortium are several software companies that support the UK mortgage and real estate sector.
The house buying process is unquestionably trying. Typically lawyers or conveyancers have to carry out numerous checks. They need to verify property details with the registry and co-ordinate with the new and previous mortgage companies. On top of that, they liaise with the real estate agents and the sellers. What coadjute aims to do is enable all this background data to be shared seamlessly between the parties in a decentralized way, using distributed ledger technology (DLT).
Initially, the project with Natwest is focused on acquiring and sharing the information needed for the bank to approve a mortgage so the buyer can finalize their purchase offer.
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