Revolutionising the mobility sector with blockchain platform
MVL Foundation Pte. Ltd [MVL] operates TADA, the world’s first blockchain ride-hailing service, which has amassed 1 million users in Southeast Asia – namely throughout Singapore, Cambodia, and Vietnam- since its launch in 2018. MVL aims to revolutionise the mobility sector, as it begins to manufacture and supply electric vehicles (EV) such as their E-TukTuk. It is the only platform that operates under the zero-commision policy, and it aims to create a transparent ecosystem by providing incentives and benefits to all participants who provide their data using the platform.
The company also signed an MOU with Bolton, a subsidiary of Indian Auto manufacturing giant, Krishna Group, for its EV production and sales division in India, boosting the availability of the TADA ride-hailing and delivery platform within the country.
MVL has partnered with TZ APAC – a leading Asia-based public blockchain adoption entity for the Tezos ecosystem – to develop its data business with hybrid blockchain technology, utilizing both Hyperledger Fabric and the Tezos public blockchain. TZ APAC is supported by the Tezos Foundation and headquartered in Singapore.
All of MVL’s mobility products utilise MVL’s own native protocol. It generates and stores data within MVL’s blockchain-based database. Customers receive rewards by consenting to the collection of their data, as part of MVL’s bid to make consumers feel more in control over how their information is used by tech companies. The incentive scheme was designed following growing resistance against technology companies which commonly harvest user data without yielding any consumer benefit.
In March , MVL also announced its decision to introduce a new blockchain system that functions independently from the Ethereum network. High transaction fees, scalability and environmental sustainability were cited as key reasons MVL explored other blockchain options for its further development.
Kay Woo, CEO and founder, MVL stated “having a partnership with TZ APAC is a huge step for MVL to expand its data business. We are grateful that MVL, together with TZ APAC, can successfully store all data generated and collected from TADA on the blockchain. On the Tezos protocol both companies will team up to create a high-valued data business.”
David Shin, Head of Asia, TZ APAC added “We are delighted to work with MVL, to build both mobility applications and data brokers on the Tezos ecosystem. In addition to a more trustless environment and increased data accuracy, the project will enable individuals to monetise and have greater control over their data.”
This partnership is as an opportunity for both MVL and TZ APAC to build a fairer and more sustainable mobility ecosystem.