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by toomuchtodo
1243 days ago
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19 states have electronic titling without a blockchain. As long as you have a central authority, you don’t need the blockchain. You do need robust identity verification and controls systems (IAM and audit logs), but the title and liens can still be records in a database. Want to look up if a title is legit? Offer a public page that accepts a VIN and spits out title details, no different than public real estate property records. Solution looking for a problem. This is someone’s pet project. Someone commits fraud? You have an audit log and verbose identity and transaction documentation when you need to go to court or reverse transactions. https://en.wikipedia.org/wiki/Electronic_lien_and_title |
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Which means 19 states have their own databases, and exchanging data between them entails 19! (at minimum) separate ad-hoc connections doing a bunch of ETL work to massage between subtly-different database implementations.
> As long as you have a central authority
And who is that central authority? Nevada is not a central authority over Wyoming.
The federal government could be that authority, but that just kicks the can down the road; the US (despite its best efforts) is not a central authority over Canada or Mexico or wherever else. Do we have the UN establish a global DMV?
A distributed ledger sidesteps all this. Wyoming and Sweden don't have to trust each other and/or some third party when they can just post their records to the same chain.