Titleblox

A private communications and data/document-sharing gateway for DMVs to process titles and transfer ownership for businesses “licensed” to buy, sell, and trade in motor vehicles.

Comment 3

The Problem

There are 40 million used cars sold each year in the US. Many are sold via private-party (C2C) transactions, but the majority of the transactions are made at dealerships (B2C). Dealerships acquire their used car inventories through consumer trade-ins (C2B), auctions, and direct purchasing from other dealers or fleets (B2B). For every B2C transaction to occur there must be 2 (sometimes even 3 or more) transfers of ownership on the asset. The dealer only needs to prove ownership during the amount of time they hold the asset for sale, typically 1 - 60 days, then ownership will be transferred to the new buyer. The problem is whether you are a small dealer who walks their documents down to the courthouse or large dealer shipping them and waiting,the process to transfer and be able to show proof of ownership takes days to even weeks. During this time the dealer is incurring the carrying costs (storage, interest on their floor plan loan, depreciation of the asset), cost burden of handling or shipping the title, and lost opportunity cost of not being able to list the vehicle for sale.

Our Solution

A private gateway for DMVs to interact with businesses holding a claim to this license would make title transfer transfers possible with a few easy steps. Credentialed businesses can be issued a claim to the asset to allow them to immediately offer the vehicle for sale. A paper title would not be necessary since they will only own the asset for a short period of time before it is transferred to the new buyer. Having the proof on chain would allow state entities and other verified businesses, like auctions (20M vehicles a year), to verify a dealer or other consignor (banks, fleets, rental agencies, insurance) has a clean title to the asset without having to show proof by mailing them physical documents. This would save days, weeks, and a lot of wasted cost for businesses (mostly SMBs) and help states operate more efficiently.

Challenges We Ran Into

  • Incorporating Polygon ID into the authentication and identity verification process presented a learning curve due to its decentralized nature.
  • Integrating APIs for DMVs and Delegates was a challange in disguise.
  • Understanding DMV Environment and Workflow was a huge challenge in itself as we started with very little knowledge.

Accomplishments We Are Proud Of

  • We really do understand DMVs now :)
  • We can create, integrate anything with ZK-Proofs :|
  • We overcame so many barriers, resolved so many buys, All in All, we are proud of ourselves as a team. ## What We Learnt
  • zk-proofs, polygon-id, veramo, verifiable credentials, didcomms
  • DMVs, DMVs, DMVs

Whats next for titleblox

Opensource public good! Maybe a DAO ¯_(ツ)_/¯

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Updates

posted an update —

Page routes are not connected and navigating properly on hosted version. The team is in exams this week and will be updating when they can. You can navigate pages for now by finding their path in the repo. I will provide update here when fixed.

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posted an update —

Worth noting that the admin election and delegate voting is intended to be a smart contract. Due to time constraints we just implemented the logic on the back.

Also, it is intended that the entries for admin/delegate roles would only be acceptable from a .gov email address. However, for demo purposes this is not feasible.

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