July 30, 202410:05 AM EDT Updated 2 hours ago
Cars ride in traffic along the I5 freeway is shown in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/ File Photo
July 30 (Reuters) - 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 and its technology partners exclusively told Reuters on Tuesday.
The project, in collaboration with tech company Oxhead Alpha on Ava Labs' 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 lien fraud.
