MVL HANDLING END OF LIFE VEHICLE USING BLOCKCHAIN TECHNOLOGY

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In the heartland of Cameron lives Mr Johnson, who is a civil servant. He has been going to work on a public transport for a long time and looked forward to buying his own car but his salary can’t afford a brand new car considering other family engagements. Mr Johnson made up his mind to buy a second used car from a dealer after saving up for some months. The used car he bought from the dealer was supposedly shipped from overseas. Without any prior knowledge of the condition, he only assessed the sound of the engine, the mileage and the body of the car before he bought. A month after the purchase of the car, it had a fault. The fault was difficult to diagnose because of the local vehicle mechanics he was using. Mr Johnson ended up spending more money than he envisioned. Problems like this are always common in the third world countries. Mass Vehicle Ledger (MVL) is providing solution to problems like this.

MVL is building an ecosystem that that will gather data of vehicles from cradle to grave (Lifecycle). The ecosystem should be able to link several vehicle services into the ecosystem. Currently, every part of vehicle service ranging from manufacturing to end users is centralized to only the aspect that provides a particular service. Meaning, some service along the chain will not have access to vital information that will help to diagnose, repair and take decisions.

https://ibb.co/hjO3Ty
https://ibb.co/iPvHoy

By utilizing blockchain technology and smart contract MVL will tackle these problems by gathering all data in one centralized database. Records of all activities concerning one vehicle can be maintained in the entire duration of its “lifetime” and ensure that such records are kept free from corruption. Only the owner will have the authority over his or her data stored on the decentralized blockchain. In the past, a limited number of centralized services monopo­lized data, but now the power of who owns the information is distributed evenly to the people. Various participants in the vehicle market can continue to add trustworthy data and be connected in one ecosystem.

MVL will build software that will have core participants like;

· Car Owners
· Drivers
· Mechanics
· Users
· Other participants

MVL Token

The ecosystem will issue the MVL coin which is transferable and the MVL point which is convertible. Through the rewarding system users can grow there points and then convert to MVL coin which can be used to trade goods and services in the MVL Ecosystem. Participants can pay for a car-sharing service, purchase vehicle parts, pay for repairs or gas or even buy a new vehicle. All sellers of car-related goods and services will be appropriately licensed/approved to sell such products and any such sale will occur within national boundaries. This token will run on the popular erc20 blockchain till MVL goes to its mainnet.

THE TEAM
Below are the team members
https://ibb.co/hCABFd
https://ibb.co/j2jGgJ
https://ibb.co/eohf8y
https://ibb.co/bVadvd

CONCLUSION

With such ecosystem Mr Johnson can easily access the MVL software from where ever. He can also determine at what condition he is buying the car. This will also give information to the mechanics to easily diagnose a car. All this are achievable with the wonderful work of smart contracts under blockchain technology.

Bitcointalk username : @baoli