coinedition.com
Crypto infrastructure firm Oxhead Alpha partners with California’s Department of Motor Vehicles (DMV) to make it more efficient using blockchain technology. Thus, this innovative and strategic partnership with the crypto firm is one of a kind for the state’s agency, which has always functioned with endless bureaucracy.
California, the US state with the highest number of car registrations, will verify car registrations and details through blockchain technology.
The President of Oxhead Alpha, Andrew Smith, commented:
The partnership with the DMV [Department of Motor Vehicles] is almost a perfect matchup of a system based on paper that has been crying out for more efficiency.
Smith also disclosed that Oxhead Alpha specializes in advancing protocols, R&D. The firm is now shifting to the open-source Tezos blockchain for its efficient consensus algorithm, on-chain governance, and robust security model to provide a faster and cheaper service, he added.
According to Smith, the paper car details will now be reflected as digital assets on-chain. Smith further added that a proof-of-concept testnet was already conducted last week, and a shadow ledger is the first step toward full deployment of the blockchain technology. The ledger will have the database of California’s drivers.
Smith also assured that the advent of blockchain would not eliminate the DMV’s role in the transaction process.
Last year in September, California Governor Gavin Newsom vetoed a crypto licensing and regulations bill that creates a licensing regime for those wanting to streamline crypto transactions.