Blockchain Tech for Vehicle Titles Pulls $5M in Investment

A startup out of Cleveland that wants to digitize vehicle titles using blockchain technology has raised $5 million from investors…

Billed by blockchain advocates Bernie Moreno and Shane Bigelow — the company’s chairman and CEO, respectively — as a secure, digital simplification of a traditionally complicated process, CHAMPtitles allows relevant parties to verify their part of a vehicle title transaction remotely. Bigelow explained to Government Technology last year that transferring vehicle titles typically involves a consumer, car dealer, manufacturer, bank, insurance company, state department of motor vehicles and title-issuing authority, such as a court clerk or county recorder; but prior to blockchain, the process had to be done on paper because of security concerns for all involved.