MVL partners with TZ APAC to build sustainable mobility ecosystem

MVL partners with TZ APAC to build sustainable mobility ecosystem

MVL Foundation Pte. Ltd. – an incentive-led blockchain mobility ecosystem has reportedly joined forces with TZ APAC- a prominent South Asian public blockchain adoption company for the Tezos ecosystem in a bid to develop its data business with hybrid blockchain solution with the help of the Tezos public blockchain and the hybrid blockchain mechanism.  

For the record, MVL Foundation operates TADA, which is the world’s first blockchain-powered ride-sharing service that has crossed 1 million users across South East Asia since it was introduced in the year 2018.

The main goal of MVL Foundation is to help rebuild the mobility sector since it is making a transition towards the production and supply of electric vehicles like E-TukTuk.

Sources cite that MVL has also inked an MOU with Bolton- a subsidiary of Indian automobile manufacturing entity- Krishna Group to produce and sell electric vehicles in India, driving the availability of the TADA ride-hailing and delivery ecosystem within the nation.

Notably, the mobility products by MVL use the company’s native protocol that generates and manages data within its blockchain-based database technology. Customers gain rewards by consenting to the collection of their data as a part of the entity’s effort to make them feel more in control over how their information is used by technology firms.

In addition to above, the programme was developed due to increasing resistance against technology giants that harvest user data without providing any benefits to them.

Kay Woo, Founder, and CEO of MVL Foundation, was reportedly quoted stating that the latest alliance with TZ APAC will help the firm expand its data business. Through this, MVL will be able to store the data generated and collected from TADA on the blockchain.

Commenting on the partnership, David Shin, Head of Asia, TZ APAC, mentioned that the company will work with MVL to build mobility applications and data brokers on the Tezos platform. Additionally, the project will offer a trustless environment and data accuracy to users along with monetizing and having greater control over their data.

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