Tips:
- California’s DMV partners with Tezos and Oxhead Alpha to digitalize vehicle ownership
- The residents can now register their vehicles as non-fungible tokens
- This is the first innovative blockchain project adopted by the organization
California Department of Motor Vehicles (DMV) announces partnership with Tezos blockchain and Oxhead Alpha, a crypto-based software development company.
According to the news by Fortune Crypto, users can now utilize blockchain technology to register their vehicles online in a database.
The digital ownership of the vehicles will simplify buying and selling of cars because residents can easily transfer the hold to the buyer without having to manually visit or fill out forms for the department.
Furthermore, it emerges as another Use Case to authenticate and verify the credibility of the vehicle. All the repairing and accidents related to the vehicle will be recorded on the blockchain ledger permanently, preventing scams and fraud.
According to DMV
According to DMV representatives, blockchain tech will enhance security and make the process of vehicle registration and obtaining a driver’s license more efficient than ever.
Tezos ranks among the best NFT blockchains in the industry that offers high scalability, scalability, and open-source transactions. It is an ideal network for decentralized applications and assets.
Vehicle ownership on the Tezos
The vehicle ownership on the Tezos blockchain will be held as NFTs in digital wallets. Only the users can access the key to the wallet, meaning the ownership of the car can never be tampered with or replaced unless the owner chooses to do so.
This new initiative by the department sets an example all over the world. Adopting a blockchain could solve so many issues and problems that stress people out on a daily basis. DMV’s digitalization will save so much time and effort for California citizens.
