Californian Department of Motor Vehicles (DMV) plans to use blockchain to digitize and store all its titles. They are running a project on the Tezos Blockchain network with help from a crypto company, Oxhead Alpha. DMV wants to make it possible for users to transfer their titles as NFTs. This will reduce hassle and make the entire process more efficient.
Californian DMV on the roll!
The Californian motor vehicles department wants to innovate how they do things by using blockchain and decentralizing processes. The Chief Digital Officer of the DMV, Ajay Gupta, stated that they are currently in the process of transferring all titles that are registered with them to the blockchain.
For those who are confused, titles in California are the same as registration. It includes proof of vehicle ownership and state registration for a driving permit on the road.
It is stated that the project is not new and began in 2020. However, the progress was stalled because of COVID-19. They now plan to build a “shadow ledger” that will store all information regarding the vehicles in the state. Tezoz and OXhead Alpha will be part of the project. However, do note that DMV will be the one managing the entire database.
Benefits of using blockchain for this purpose
The DMV is currently in the process of storing all the data, and once the systems are all set which is expected to take 3 months, they will build applications for customers. These apps will offer various functionalities to users. For example, customers will be able to access all details of a second-hand car when they plan to purchase it. These details will not only be limited to ownership but also the condition of the vehicle and any major or minor defects.
It would also allow authorities to build a centralized database with other states having information on all cars in the nation. This can help the police and investigating authorities in case something goes wrong. However, the best part would be the ease with which the ownership of vehicles can be transferred with the help of NFTs.
What are your thoughts as the Californian motor vehicles department plans to use blockchain to store registered titles? And do you think this would be a game-changing step? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
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