A trusted third party takes responsibility for verifying the availability of funds in advance of the closing of the sale of a good (e.g., real estate purchase).

All of the steps to close including verifying payment, title search, etc., could be on the blockchain:

1. Sale agreement/contract
2. Clearing of contingencies to sale
3. Certificate of ownership/title search
4. Good Faith Estimate for closing costs
5. Proof of transfer of funds from buyer and mortgage lender to an escrow account
6. Final closing costs (HUD-1 in the US)
7. Financial clearing of seller's financial obligations (if appropriate)
8. Proof of purchase and transfer of title