MVL Foundation has joined hands with TZ APAC to help develop its data collection and sharing operations. Blockchain technology based on the hybrid model will be used for this specific purpose. The development will consist of both the public blockchain of Tezos and Hyperledger Fabric, thereby combining the best of both formats of the blockchain technology.
The ride-hailing service from the house of MVL, the TADA, has achieved the distinction of becoming the first platform in the world that will operate on open ledger technology. The platform is trusted by 1 million customers in the Southeast Asian region since it was launched in the market in 2018. The plans of the MVL foundation are very specific as it aims to revolutionize mobility across the globe. To that effect, it has started both manufacturing and supplying EVs in the world with famous names of its models, including the electrically powered TukTuk.
MVL has also expanded its partnerships by signing collaborative opportunities with many well-known players in the world. One such noteworthy association is with the Krishna Group in India and this partnership is expected to help advance the company its manufacturing and selling ambitions in the country.
As for the operating philosophy, the mobility products of MVL utilizes a platform of its protocol and blockchain. Customers who provide their consent to allow the collection of their data get rewarded by the organization. This effort has been implemented keeping in mind the resistance that an organization faces in collecting and sharing their customers’ data.
MVL has also made an important announcement about inventing an all-new blockchain system based on a different platform rather than using Ethereum. The concerns associated with the scalability of the blockchain network, high processing fees, and high energy usage associated with the existing blockchain platforms are reasons behind the company’s decision to take a plunge into introducing a new open ledger system in the future. The announcement has already been made by the MVL during the 2.0 online conference held in March earlier this year.