Hi. This is MVL team.
We are here to make clear about the relationship between MVL and TADA(Ride-hailing service of MVL) since there are many people who misunderstand it.
First of all, TADA and MVL are not separate services or platforms.
◇Current Stage of TADA
TADA is a Ride-hailing service that targets drivers and riders. Most other Ride-hailing services earn their majority of profit on commission by matching drivers and riders. However, TADA does not charge any commission. Since TADA is a service based on zero commission, drivers can make more profit and riders can also get a better service at a lower price.
This is what MVL and TADA have been doing after the launch of TADA in Singapore.
However, this is not the only thing.
◇Next Stage of TADA : Introduction of MVL Ecosystem
MVL will provide MVP(MVL Point) to drivers and riders who use TADA service. More MVP will be distributed to a driver who provided a better service, and a rider who frankly left his review on the driver.
MVP could be exchanged to MVL Coin(Currently MVL Token) in future, and this coin could be traded at exchanges. Or this MVL coin could be used in affiliate such as rent-a-car company or car repair shops.
In short, driver who use TADA can use MVL coin to 1) exchange to financial asset at an exchange, or 2) pay for services, such as rent-a-car or car repair service.
This also applies to the riders.
Then, you come up with thinking, “What happens if all drivers exchange their MVP to MVL Coin all at once and sold them at an exchange?”
There is a lot of use cases of MVP, so this will never happen.
MVP could stand for 1) Driver’s Reputation, and 2) Indicator that differentiates the benefit.
First of all, MVP can be used as a reputation indicator of the driver. If a driver has a lot of MVP, we can guess that he has a lot of driving experience, and expect a better service from him.
Furthermore, if one does not exchange his MVP to MVL Coin and remain himself at a high level with lots of MVP, he would be able to enjoy many benefits. Depending on one’s MVP holdings, the period and ratio of token conversion could be applied differently, and one may be able to get benefits, such as coupons or discounts, that could be used in partner companies of MVL. In addition, to prevent the reckless decrease of the token value, long-term unconnected users’ MVP will become unusable.
This is the scenario that MVL wants to demonstrate in ‘Ride-hailing’ area. MVL will be extended to the services of workshop, insurance, rental car, and used-car, as well as ride-hailing.
◇Why you can’t see MVL in TADA
There might be a question, “Why does MVL and TADA appear to be separate now?”
MVL Team thinks that it is right to first increase the user of TADA service, and then explain MVP and MVL Coin. Even if Singapore is a place where blockchain technology has been developing actively, there are still a lot of people, including most drivers, who are unfamiliar with it. If we approach them with MVL, a blockchain mobility ecosystem, they might feel reluctant to accept it. It is not too late to explain MVL after letting them get familiar with TADA first, as they use the real service. We are going to process this “MVL explanation” this year.
◇How does MVL Grow?
The value of most services, products, and platforms in any market is determined by demand and supply. The same is true for MVL. As demand for MVL increases and more people/places use MVL, the value of MVL will also get higher. That’s why TADA and MVL can not be separated.
In addition, MVL Team cannot sustain the business with TADA service itself only. We do not charge any commission, so we cannot any make profit from it. As TADA becomes a part of MVL and MVL protocol gets expanded, we can generate revenue and MVL Team could be operated.
This is not only specifically applied to TADA. As you can see from MVL’s global business map, TADA is one of many MVL services.
There are a lot of people who are misunderstanding about the relationship between TADA and MVL recently, so we explained TADA as an example.
MVL requires various mobility services to sustain itself, and token economy must be well-developed to operate the MVL ecosystem.
Though we might be slow, we’ll go thoroughly. Stay tuned with us.
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