Weksil is an on-chain protocol for real estate promissory note issuance, assignment, and settlement — replacing 30–90 day paper processes with instant, verifiable transfers under UCC Article 12.
For a 50-note acquisition: $75K–$150K in legacy costs vs. $2,500–$10,000 with Weksil
Every time a mortgage note changes hands, a paper assignment must be executed, delivered, and often recorded with the county. Miss one link in the chain and the note becomes legally unenforceable. This isn't a theoretical risk — it was a central cause of the 2008 foreclosure crisis, and it remains an active problem today.
Missing or defective assignments make notes legally unenforceable. Thousands of foreclosure actions dismissed under "show me the note" challenges since 2008.
Secondary market note sales require manual due diligence on every assignment, title verification, servicing transfer, and physical document delivery.
Institutional buyers pay attorneys to verify the assignment chain for every note in a pool. A 50-note acquisition costs $75K–$150K before a dollar changes hands.
The robosigning scandal revealed millions of fabricated mortgage assignments. Modern printing makes forged signatures virtually undetectable.
A paper note can be pledged as collateral to one lender and simultaneously sold to another. Neither party knows until it's too late.
When a note sells, payment servicing transfer takes 15–60 days — a window where borrower payments get lost or misrouted between servicers.
Weksil records real estate promissory notes on blockchain as Controllable Electronic Records under UCC Article 12. Each note carries its complete lifecycle — origination, every assignment, every endorsement, every payment — as an immutable, verifiable chain of custody.
Transfers execute instantly via smart contract. The buyer who acquires control is the legal holder. No paper assignment. No recording delay. No broken chain.
We're assembling the founding team to build blockchain promissory note infrastructure for a $12 trillion market.