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The digitalization of vehicle titles and title transfers using a private Tezos blockchain is now being tested by the California Department of Motor Vehicles (DMV).
The action is a result of a partnership between the California DMV, Tezos, and blockchain software company Oxhead Alpha. To develop a secret Tezos testnet that it has called a “shadow ledger,” the California DMV has hired Oxhead Alpha. In short, it is intended to replicate the agency’s present database on a blockchain.
According to Ajay Gupta, the chief digital officer of the California DMV, the organization hopes to get the shadow ledger resolved within the upcoming three months.
The DMV will serve as an intermediary to supervise such processes as it rolls out applications like digital wallets to keep and transfer nonfungible token automobile titles.
“The DMV’s perception of lagging behind should definitely change,” Gupta told forbes.
California DMV to Modernize its Operations
According to Andrew Smith, president of Oxhead Alpha, the California DMV’s blockchain program will benefit the organization in many ways, notably in terms of modernizing its present paper-based systems.
Smith explained in the company’s release on January 25 why Tezos was a good fit for the DMV, saying that the blockchain “solves some of the really hard problems in blockchain in an elegant way.”
He claimed that “the combination of responsible consensus, on-chain governance, and institutional-grade security makes Tezos a great platform for delivering production-ready solutions.”
Tezos Expands Presence in Blockchain Space
Back in November, Kathleen Breitman, CEO of blockchain business Tezos, stated that despite recent rebound, the present bear market in cryptocurrencies is still a long way from initiating a new bull run. She did, however, assert that a “small minority” of helpful crypto applications will survive the current challenges and “thrive” in the long run.
In order to integrate Indian developers and producers into the Web3 network, Tezos India partnered with Revise, a non-fungible token (NFT) infrastructure platform based in Connecticut, at the end of the previous year.
The post California DMV is Working on Digitalization of Car Ownership appeared first on Blockchain, Crypto and Stock News.
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