Tezos will help the California authorities track the transport

Ajay Gupta, a spokesman for the California Department of Motor Vehicles (DMV), said that the authorities are going to change their approach to vehicle tracking. At the moment, the department has already begun to digitize cars, and the Tezos blockchain has become the platform for storing their database. It is noteworthy that in addition to Tezos and the California Department of Motor Vehicles, software developer Oxhead Alpha also takes part in the new project.

The California Department of Motor Vehicles decided to turn to Oxhead Alpha to create a “shadow ledger” based on the Tezos blockchain. They explained that they want to make some kind of database on the XTZ blockchain. As for the launch date, there is no exact information on this topic yet. The California Department of Motor Vehicles wants to start this project in the coming months.

In addition to the database, DMV would like to release various applications in the future, which may be associated with digital wallets, which will help users in the future to store and exchange NFT tokens on machines. The California Department of Motor Vehicles, in turn, will act as an intermediary in this market, monitoring the operations.

In the near future, the car market and vehicle tracking may change dramatically. For example, if a vehicle is being sold, then in this case, residents will not only have to sell the car, but also transfer the NFT token to the new owner, since without a digitized copy of the vehicle, he may have problems with the law.

Thus, on the one hand, control over people will be more stringent and people may feel uncomfortable in the future, and on the other hand, crime and theft should be significantly reduced.

This news increased interest from investors. The daily trading volume was 67.5% higher than the day before and reached $47,000,000+. The price of the token rose to $1.17, which is 5.5% more than yesterday, and the capitalization of Tezos surpassed $1,000,000,000.

Recently, the US authorities talked about how American citizens and immigrants should fill out an income tax return that relates to their cryptocurrency assets. You can read more about this here .