MVL founder on building a connected mobility ecosystem with blockchain

Jaime E. Love

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When we listen to discussions about blockchain, what generally will come to head? 

The the latest crypto crash and rate volatility, maybe? Or an enthusiastic crypto lover spamming our social media feeds with predictions of what he purchased going “to the moon”?

Blockchain is in fact far a lot more than just cryptocurrency. It’s a piece of technological innovation which is proving to have significantly much more utility than just building another person abundant overnight, and one particular distinct enterprise is showing us how blockchain technological innovation can be used to make an total ecosystem.

A search at MVL’s ecosystem

A lot of of us could have heard of TADA, a ride-hailing app that counts Get, and Gojek among its opponents in Singapore. A person of the offering points of TADA is that it normally takes no commission for its products and services.

But TADA itself is just one particular portion of a greater ecosystem — MVL’s mobility blockchain ecosystem — and therein lies the magic formula of TADA’s company.

mvl blockchain ecosystem
Picture Credit score: MVL

TADA does not cost fee for the reason that it does not require to. Instead, associates of the MVL mobility blockchain procedure supply knowledge, which MVL can then leverage to present greater offerings for every person. 

Corporations that husband or wife with MVL and TADA, these types of as coverage firms, will shell out MVL a charge for access to MVL and TADA customers.

In reality, TADA and MVL’s founder Kay Woo has stated that TADA is “not right here to compete with giants”, referring to fellow experience-hailing gamers Get and Gojek, and is as a substitute prepared to do the job with these firms.

MVL envisions connecting all motor vehicle-connected products and services to a person ecosystem wherever members carry out steps to earn benefits although the facts produced by all the things to do will be stored on blockchain and provide more price.

– Kay Woo, founder and CEO of MVL

As more businesses be a part of the MVL ecosystem, MVL gets much more charges, while members of the MVL blockchain grow to be extra related and offer you improved products for shoppers, additional enlarging the MVL ecosystem.

clutch mvl cryptocurrency wallet
Clutch, MVL’s cryptocurrency wallet / Impression Credit: MVL

This team is tied collectively by means of MVL’s blockchain ecosystem, like its native MVL token, which can be received by buying and selling factors obtained from interacting with other sections of the MVL method. The token by itself is hosted on the Ethereum blockchain.

Points and cash can be stored inside of MVL’s personal cryptocurrency wallet, recognized as ‘clutch’, which was launched previously this calendar year.

Making a family of companies

MVL has also been actively looking for out partnerships to increase its ecosystem. Earlier this thirty day period, MVL subsidiary ONiON Mobility signed a Memorandum of Understanding with TotalEnergies Advertising and marketing (Cambodia) to boost and increase the use of electrical automobiles (EVs) in Cambodia.

This partnership would permit ONiON to launch their mobility battery swapping hub station in two TotalEnergies Service stations, making it possible for for bigger convenience for EV consumers and encouraging the use of this sort of motor vehicles.

ONiON electric tuktuk
ONiON e-tuktuk / Image Credit:B2B Cambodia

ONiON by itself has also induced fairly a stir in Cambodia, for making their possess e-tuktuk, an electrical motorcycle and vehicle-rickshaw. They are currently in procedure in the funds of Phnom Penh, even though there are strategies to extend this to neighbouring areas as properly.

They have also a short while ago engaged Cardo as their electronic trustee, in an energy to make certain greater transparency. Cardo will be liable for distributing tokens in accordance to MVL’s very own timetable. 

As the ecosystem is forming, Cardo provides a “safebox service” that makes it possible for all contributors to connect with each and every other even though complying with the laws.

Cardo is a kid business of a person of the most significant financial institutions of Korea, and they have the strongest protection protection for its custody company. With the maximum amount of protection from fintech companions like Cardo, we can give an assurance of good security of MVL and its business enterprise.

– Kay Woo, founder and CEO of MVL

As aspect of this partnership with Cardo, MVL has also entered an anti-funds laundering arrangement with Cardo to make certain that administration and stability of their tokens is up to marketplace criteria.

Growing its reach with additional partnerships

Lest we believe that that MVL has by now peaked, the business is also planning to broaden their partnerships to extra businesses. 

INTERVIEW] Korean blockchain startup gears up to challenge Grab's monopoly
Kay Woo, founder and CEO of MVL / Picture Credit: The Trader

While declining to title certain enterprises, Kay prompt that there would be “more partnerships from the power sector, auto makers, and logistics providers in the close to long run.”

“These companies are really suitable to MVL’s program of constructing a connected mobility ecosystem. We will not allow go of our identification of mobility and this identification will only get much better by means of the aforementioned potential partnerships.”

MVL is evidently not just resting on its laurels. It has managed to develop improvements in transportation sectors through the location, and is wanting to do even extra. Kay signifies a down-to-earth approach to business enterprise, where by entrepreneurs cautiously analyze new technologies, and request by themselves how these can greater the life of others.

MVL’s role in the blockchain local community has been basic and distinct. We focus on resolving real-globe difficulties and connecting our methods to the blockchain which results in a basis of rely on among all contributors.

By retaining this essential connection to the blockchain neighborhood, we are secure from the volatility of crypto and set ourselves apart from the standard blockchain projects that bear high challenges.

– Kay Woo, founder and CEO of MVL

The ecosystem constructed by Kay is a primary example of why we should not judge a guide by its go over. Kay shared how when TADA arrived out, numerous were skeptical about his business model of getting no commission from rides, with some even going so considerably as to simply call it a “scam”.

But quickly forward to these days, TADA has remained faithful to its promise. Their rides are nonetheless commission-free of charge, and TADA is a implies to an close to make some thing better as a gateway into MVL’s linked ecosystem for mobility providers, joined by blockchain know-how.

Highlighted Picture Credit: TADA



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