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California DMV puts 42 million car titles on blockchain to fight fraud
California's Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain technology in a bid to detect fraud and smoothen the title transfer process, the agency's technology partners exclusively told Reuters on Tuesday. The project, in collaboration with tech company Oxhead Alpha on Avalanche blockchain, will allow California's more than 39 million residents to claim their vehicle titles through a mobile app, the first such move in the United States. Digitizing car titles will reduce the need for in-person DMV visits and the blockchain technology will also function as a deterrent against ... (full story)
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- Posted: Jul 31, 2024 5:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 190
