Fidelity & Blockchain Start-up Building Block REIT Announce Alliance
Integrating Fidelity's market leading services with Building Block's cutting edge technology
CHICAGO, Sept. 5, 2018 /PRNewswire/ -- Fidelity National Title and Building Block REIT announced a strategic alliance today. In its first phase, the alliance will cooperate their respective marketing and sales efforts in the greater Chicago market and jointly pursue client opportunities.
It is anticipated that both companies will extend their capabilities by leveraging their combined strengths to deliver greater value to their respective clients in the purchase and sale of multi-family, office space and mixed-use commercial real estate.
"As a leading provider in the title industry, Fidelity National Title is excited to be partnering with Building Block REIT and integrate our expertise along with our products and services into their platform. The technology Building Block REIT is bringing to the commercial investment space is unique and this is an opportunity for Fidelity to provide innovative products specific to our partnership that will provide a high level of service to all the parties in the transaction," said Kim Long, Vice President Operations, Fidelity National Title.
Simon Enwia, Founder and CEO of Building Block REIT, notes that "Blockchain builds on trust, but the general public still want a trusted name verifying the previous deeds from the past 100 years and the starting point of blockchains when it comes to property titles. The combination of Fidelity and Building Block REIT gives buyers the reassurance that the title to their property is clear of encumbrances from the distant past and in real time. Building Block REIT and Fidelity are ushering in a new age in title insurance."
Building Block REIT CMO Bruce Masterson cited the advantages of "integrating Fidelity product and services into Building Block REIT's blockchain implementation as a smart contract offering, further reducing friction in the process."
Commenting on future plans for Building Block REIT, Simon Enwia stated, "We are just scratching the surface on the innovation that blockchain technology brings to the REIT market and will continue to innovate with blockchain across the spectrum of transactions involved in acquiring and managing real estate."
About Building Block, Inc.
Building Block, Inc., formed in 2018 by a group of real estate and blockchain technology professionals, is the first REIT in the US to combine the tax advantages of investing in a REIT with Blockchain technology. Building Block is reimagining REIT investing and opening up this sought after alternative investment category to everyday investors around the world. To stay up to date with Building Block, visit www.buildingblockreit.com and follow @BB_REIT on Twitter and see our pages on Facebook, LinkedIn and Telegram.
About Fidelity National Title
Fidelity National Title Company, LLC is a member of the Fidelity National Financial family of companies. With a proud history dating back more than 160 years, Fidelity National Financial is a leading provider and one of the nation's strongest and most respected providers of title insurance, escrow and other title-related services, and technology and transaction services to the real estate and mortgage industries. Fidelity National Financial is the nation's largest title insurance company operating through its title insurance underwriters – Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York – that collectively issue more title insurance policies than any other title company in the United States.
SOURCE Building Block, Inc.
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