In the process of buying home, the owner received very similar offer, around the same price range however the other offer waved inspection and appraisal.

I understand the general process of how the title companies like Catic operate but would anyone with more in depth knowledge be able to elaborate on how the specifics would be able to be transitioned to a blockchain platform?  

I was wondering if anyone had any experience with this and if there is any expedited process that would allow me to get it within the month or as fast as possible?

You've got this.Trust the process.

We're just dipping our toes in the water, trying to familiarize ourselves with their processes. 

You must individually own a set percent of the new purchase equal or greater than your selling property in the same tax paying name as when you sold.

I am curious about the process of improving a fixer-upper myself, but I have never undertaken any project remotely like it.

There's a lot more involved then just listing on the MLS, and if you're not comfortable handling the complete process, yourself, you can wind up in hot water and costing you more than if you used an agent. 

We started the application process before adding our children to the title and the lender is about to send our application to the underwriters.

Sounds like you are already familiar with the homebuying process so that's a plus.