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- California will now confirm automotive registrations and particulars via blockchain know-how.
- Oxhead Alpha has shifted to Tezos blockchain for quicker and cheaper service.
- Andrew Smith, president of Oxhead Alpha, mentioned that the paper automotive particulars could be mirrored as digital property on-chain.
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 progressive and strategic partnership with the crypto agency is one among a sort for the state’s company, which has all the time functioned with infinite paperwork.
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 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 quicker and cheaper service, he added.
In line with Smith, the paper automotive 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 know-how. The ledger can have the database of California’s drivers.
Smith additionally assured that the appearance of blockchain wouldn’t get rid of the DMV’s position within the transaction course of.
Final 12 months in September, California Governor Gavin Newsom vetoed a crypto licensing and laws invoice that creates a licensing regime for these desirous to streamline crypto transactions.