- MVL Foundation Pte. Ltd, the organization that operates TADA, partners with TZ APAC to develop its data business with hybrid blockchain technology, utilizing both Hyperledger Fabric and the Tezos public blockchain.
- MVL explored several other blockchain options for its further development, and selected Tezos due to its low transaction fees, high scalability and environmental sustainability features.
- Tada is the world’s first blockchain-based ride-hailing service. It has garnered 1 million users in Southeast Asia since its launch.
South Korea, July 12, 2021 /AlexaBlockchain/ – Blockchain ride-hailing app Tada today announced that it has moved to Tezos as it aims to disrupt the mobility sector with a fairer and more sustainable mobility ecosystem.
Launched in 2018, Tada is the world’s first blockchain-based ride-hailing service. It has garnered 1 million users in Southeast Asia since its launch. Till July 12, 2021, Tada has raised total US$10 million in funding from 7 investors, according to data from Crunchbase.
Key Differentiator: TADA is a zero-commission ride-hailing service, where drivers are not charged commissions and are rewarded for providing a safe service. At the same time, TADA passengers also enjoy reasonable fares for their rides.
Tada Moves To Tezos Blockchain Network To Develop Its Data Business
MVL Foundation Pte. Ltd, the organization that operates TADA, 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.
MVL To Revolutionise Mobility Sector
MVL aims to revolutionise the mobility sector, as it begins to manufacture and supply electric vehicles (EV) such as their E-TukTuk.
MVL’s mobility products include TADA (a ride-hailing service), a delivery service, Tada Truck (a truck matching platform), Fresh Market (grocery delivery fleet), E-TukTuk (high fuel efficient autos), and TaaS (proving TADA platforms to other businesses).
Recently, MVL 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.
All of MVL’s mobility products utilise MVL’s own native protocol, which 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 in response to the growing resistance against technology companies that commonly harvest user data without yielding any benefit for the consumer.
Why MVL Moved To Tezos?
At the MVL 2.0 Online Conference in March, MVL also announced its decision to introduce a new blockchain system that functions independently from the Ethereum network. MVL explored several other blockchain options for its further development, and selected Tezos due to its low transaction fees, high scalability and environmental sustainability features.
Kay Woo, CEO and founder, MVL Foundation, said:
“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, said:
“We are delighted to work with MVL, one of the top mobility companies in Southeast Asia, 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.”
MVL Foundation and TZ APAC said that they look forward to this partnership as an opportunity to build a fairer and more sustainable mobility ecosystem.
All of MVL’s mobility products utilize the MVL Protocol, which creates and stores data within MVL’s blockchain-based database. Users who use MVL’s platform are rewarded by agreeing to their data collection within the mobility platform.
The partnership with Tezos will refine these incentive programs and policies for the data business.