The MVL Foundation, a startup located in Singapore, recently launched their TADA service. TADA uses blockchains and digital tokens so they can avoid charging their drivers any commissions.
The peer-to-peer, on-demand service runs on an "incentive-based blockchain mobility ecosystem" called the mass vehicle ledger (MVL). The ecosystem connects the various stakeholders within the vehicle-related industry - drivers, riders, auto manufacturers and retailers, auto-repair service providers and auto insurance companies.
Through MVL, all ride data is gathered in a central database that enables the entire history of a vehicle to be tracked, stored - and readily available to parties in the ecosystem.
Drivers are awarded MVL points for providing rides - a higher number of points for longer distances; riders earn MVL points by writing reviews of their rides.
MVL points can be converted into MVL coins, the digital token or cryptocurrency of MVL.
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