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 revolutionary and strategic partnership with the crypto agency is one in all a sort for the state’s company, which has all the time functioned with countless forms.
California, the US state with the best variety of automotive registrations, will confirm automotive registrations and particulars by blockchain expertise.
The President of Oxhead Alpha, Andrew Smith, commented:
The partnership with the DMV [Department of Motor Vehicles] is sort of an ideal matchup of a system based mostly on paper that has been crying out for extra effectivity.
Smith additionally disclosed that Oxhead Alpha makes a speciality of 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 sturdy safety mannequin to supply a quicker and cheaper service, he added.
In keeping with Smith, the paper automotive particulars will now be mirrored as digital belongings on-chain. Smith additional added {that a} proof-of-concept testnet was already performed 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 appearance of blockchain wouldn’t remove the DMV’s function 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.
