The project is seen as a first step with the potential for additional functionality, the note said. These may include the ability to record repairs within the NFT, to use stablecoins as the payment leg for “atomic title transfers” and allow vehicle-licensing agencies from other states to join the platform so they can benefit from the same efficiencies as well as producing incremental efficiencies related to cross-state vehicle sales.
California Leads the Way as U.S. Federal, State Agencies Consider Blockchain’s Applications: Bank of America
