Blockchain
Crypto infrastructure agency Oxhead Alpha companions with California’s Division of Motor Automobiles (DMV) to make it extra environment friendly utilizing blockchain expertise. Thus, this modern and strategic partnership with the crypto agency is one in every of a form for the state’s company, which has at all times functioned with limitless forms.
California, the US state with the best variety of automobile registrations, will confirm automobile registrations and particulars by blockchain expertise.
The President of Oxhead Alpha, Andrew Smith, commented:
The partnership with the DMV [Department of Motor Vehicles] is nearly an ideal matchup of a system based mostly on paper that has been crying out for extra effectivity.
Smith additionally disclosed that Oxhead Alpha focuses on advancing protocols, R&D. The agency is now shifting to the open-source Tezos blockchain for its environment friendly consensus algorithm, on-chain governance, and strong safety mannequin to offer a sooner and cheaper service, he added.
In accordance with Smith, the paper automobile particulars will now be mirrored as digital property on-chain. Smith additional added {that a} proof-of-concept testnet was already carried out final week, and a shadow ledger is step one towards full deployment of the blockchain expertise. The ledger could have the database of California’s drivers.
Smith additionally assured that the arrival of blockchain wouldn’t eradicate the DMV’s position within the transaction course of.
Final yr in September, California Governor Gavin Newsom vetoed a crypto licensing and laws invoice that creates a licensing regime for these eager to streamline crypto transactions.
