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News & Press: Industry News

A.M. Best Comments on Blockchain and the Title Industry

Tuesday, May 21, 2019  
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According to A.M. Best, blockchain technology won’t replace title insurance but can improve the process for digitizing records and transactions. The report noted that to realize the value of blockchain technology current title systems and land records need to be converted to a distributed ledger, but mistakes or erroneous records would be converted as well. As A.M. Best points out, insureds still need an insurer to stand behind blockchain, and intentional crimes and unintentional errors will not disappear upon widespread implementation of the new technology. The report concludes that the key to acceptance will be the final design of blockchain, the geographical scope of the distributed ledger, the width of records and how it scales up.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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