The Expert Podcast

• Can you get an electronic or digital copy of your car title?
  • Vehicle titling is done at the state level, meaning there's no single national system for car titles.
  • While many documents (like boarding passes and passports) are going digital, car titles have been slow to follow. However, California is making progress by digitizing car titles, eliminating the need for paper versions.
• What are the benefits of a digital car title?
  • No more paperwork or dealing with DMV bureaucracy.
  • Car owners can handle everything electronically, directly from their phone.
  • Even if there’s a lien on the vehicle, ownership can still be documented with a QR code or electronic signature.
• How does the digital car title transition work?
  • California is leading the way, with other states like Virginia, New Hampshire, and Vermont also working toward digital titles.
  • Blockchain technology will be used to validate car titles, making the vehicle’s information (VIN, owner, lien holder, etc.) accessible through the cloud.
• How will digital car titles work?
  • Vehicle titles will have a blockchain signature code, storing vehicle details and ownership records securely.
  • Ownership transfers can happen instantly, without the need for notarization or paperwork, and funds can be transferred electronically.
• Benefits for dealerships and car buyers:
  • Dealerships can complete ownership transfers instantly, reducing the wait time for title and plate paperwork after purchasing a vehicle.
• What role will the DMV play?
  • California’s DMV will act as a middleman in overseeing digital wallet transactions and token car title transfers.
• Impact on vehicle ownership:
  • Digital titles will streamline the process, reducing bureaucracy and preventing issues like lost titles, title fraud, and ownership disputes.
  • Title fraud prevention: Blockchain will lock in records, preventing hidden salvage or lien information and protecting future buyers.
  • Stolen vehicles can be reported directly on the blockchain, offering better tracking and transparency.
• Looking ahead:
  • Expect a more efficient and simplified system for handling car titles, which will help you avoid DMV complications and reduce paperwork.