Blockchain
Crypto infrastructure agency Oxhead Alpha companions with California’s Division of Motor Autos (DMV) to make it extra environment friendly utilizing blockchain know-how. Thus, this modern and strategic partnership with the crypto agency is one in all a form for the state’s company, which has all the time functioned with limitless forms.
California, the US state with the very best variety of automotive registrations, will confirm automotive registrations and particulars via blockchain know-how.
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 primarily based 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 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 know-how. The ledger could have the database of California’s drivers.
Smith additionally assured that the arrival of blockchain wouldn’t remove the DMV’s function within the transaction course of.
Final 12 months in September, California Governor Gavin Newsom vetoed a crypto licensing and rules invoice that creates a licensing regime for these desirous to streamline crypto transactions.
