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California DMV Puts 42 Million Car Titles On Blockchain To Fight Fraud
California's DMV has digitized 42 million car titles using blockchain technology to detect fraud and streamline the title transfer process, enabling residents to claim vehicle titles through a mobile app -- the first such initiative in the U.S. The project is a collaboration with tech company Oxhead...
The project is a collaboration with tech company Oxhead Alpha on Ava Labs' Avalanche blockchain. Reuters reports: Digitizing car titles will reduce the need for in-person DMV visits and the blockchain technology will also function as a deterrent against lien fraud. Blockchain technology can help detect lien fraud by creating a transparent and unalterable record of property ownership, making it difficult for fraudulent activity to go unnoticed.
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