Ohio And Mercedes Benz Sees Potential In Blockchain-based Transactions
Ohio in the US and Mercedes Benz have seen the wonders of the blockchain, and are convinced that, in the future, it will figure heavily in mainstream transactions. On the part of Ohio, Coin Desk reported that a gathering of auditors from the local county have started a study into the crypto-process and the different benefits it would bring to make property dealings better.
The County Auditors' Association of Ohio (CAAO) said that it organized a 'working group' in the hopes of exploring the different implementations (and the benefits) of blockchain tech. This is in line with making real-estate documents easier to distribute; for instance, real estate deeds can be seamlessly handed between different people.
The CAAO is a governing body made up of 13 country auditors all across Ohio. It is chaired by Matt Nolan, Warren County auditor. The auditors of Delaware County and Washington County, George Kaitsa and Matthew Livengood, are also part of the group.
The group has been studying SafeChain, an Ohio-based startup. Like other startup blockchain companies, it has been using blockchain to safely store real-estate transactions and land titles, for when people need to pull them out. The firm has been tapped by the organization to review and demonstrate how they can improve upon the already-existing real estate processes in the county.
Mercedes-Benz, meanwhile, is another company that's seriously looking at blockchain as a future tech it can acquire for the company. Coin Telegraph reported that the company has a blockchain based platform which it had developed to create 'transparency and sustainability' in the company's supply chains.
The company maintaining the platform for Mercedes-Benz, Icertis, is based in the US. It had been approached by the car manufacturer to develop a blockchain platform wherein it can monitor its many supply chains. It will also allow the company to keep tabs on different documents and contracts in a secure, transparent manner.
With a county and a car company using blockchain for their processes, the cryptocurrency is gaining more legitimate. Ohio has even written several legislative laws to govern several aspects of the blockchain technology. With this, it also hopes that it can give the platform legal status.
Ohio, with this, becomes the first US state to allow companies Bitcoin usage in their transactions. They have previously made data storage and transactions done over blockchain-based platforms legal.