California Department of Motor Vehicles Places 42 Million Automobile Licenses in Avalanche Network

The California Department of Motor Vehicles (DMV) has digitized 42 million automobile registration records on its Avalanche (AVAX) network as part of a development with software development firm Oxhead Alpha to modernize the state’s title transfer process.

According to Avalanche’s blog post, users will soon be able to request, track and manage digital licenses through the DMV’s app without having to go to the office. A DMV spokesperson noted that the time it takes to transfer vehicle licenses, which used to take two weeks with the traditional process, has been reduced to a few minutes.

Blockchain technology continues to be used mostly by large banks and asset managers to enable faster transactions, greater transparency and greater efficiency for traditional assets such as bonds, loans and funds. This is also known as tokenization of real-world assets (RWA).

The DMV’s implementation provides an example of how blockchain technology can provide similar benefits for bureaucratic processes and the management of large databases in the utility sector.

“Blockchains are the most advanced tool any organization can use to maximize efficiency, maintain compliance, and protect consumer data,” said John Wu, president of Ava Labs, the Avalanche ecosystem development organization.