CHAMPtitles
Optimizing Vehicle
Title Management
In the U.S., 263,000,000 vehicles are registered to their owners using manual, paper-based record keeping. CHAMPtitles is bringing car titling online, delivering enhanced security, and efficiency to owners, state governments, and law enforcement.
Vehicle ownership is a massive market.
263
MILLION VEHICLESare currently registered in the U.S.
17
MILLIONnew cars sold in 2017
A vehicle sale requires a change of title –
a record of ownership maintained by local government.
70
DOLLARadmin cost for titling & retitling*
2
TIMESa vehicle changes hands every 8 years on average
*Between $50 and up to $90 on average.
The status quo is an expensive
slow, risky, paper-based system
The CHAMPtitles Solution:
A world-class vehicle title solution where data is no longer at risk and efficiency drives expense savings.
Through the application of its secure, patent-pending technology, CHAMPtitles ends the reliance on legacy systems to manage U.S. automobile titles. Title management is a multi-billion dollar per year administrative process affecting governments, banks, insurance companies, auto manufacturers, and auto dealers. For state governments alone, the annual cost of vehicle title management is estimated at more than $2.5bn, with further direct costs borne by vehicle owners. The CHAMPtitles approach is to partner with each party in the vehicle title ecosystem to reduce their costs in handling titles, turning the burdensome administrative process of issuing a vehicle title into a profitable activity.
CHAMPtitles TECHNOLOGY
CHAMPtitles builds and applies technology with the sole focus of bringing efficiency and enhanced security to the vehicle title arena. It enables state governments to process vehicle title transactions via a trusted electronic medium powered by blockchain technology.
CHAMPtitles utilizes a Blockchain Encrypted Ledger that’s Executable and Distributed, a BELTED system, in implementing solutions that create a trusted marketplace.
Prior to blockchain, paper was the only trustworthy medium for documenting vehicle ownership.
How would you verify the identity of the buyer and seller? Who would confirm that the buyer had insurance? Who would make sure the car dealer had repaid their loan for acquiring the vehicle from the manufacturer? Who would believe a car owner laying claim to a vehicle without paper confirmation?
With the CHAMPtitles BELTED solution, all disparate parties are linked together in a secure and immutable way that allows electronic verification of each party’s relevance and stake in the vehicle transaction.
The digital title ecosystem is an integrated, secure, and real-time vehicle digital title management network built on blockchain (distributed ledger technology).
Team Champ
CHAMPtitles has first-hand user experience by way of the founding partner who has had a distinguished 30+ year career in the retail automotive business.
With deep roots in the automobile, financial, and political arenas, CHAMPtitles is uniquely positioned to solve the auto-title expense problem for states, vehicle manufacturers, banks, and insurance companies.
CHAMPtitles is an entrepreneur-led company implementing blockchain technology to solve real-world problems for business and government.
CHAMPtitles has a seasoned executive team at its help with experience in government and the banking, finance, insurance, and automotive industries. Across these sectors, the team has grown and led consumer businesses both large and small. It is this first-hand knowledge of customer needs that gives the team a vital edge.
