MVL - incentive-based blockchain mobility ecosystem
MVL Foundation Company has announced the creation of a large register of vehicles on the basis of blockchain technology called Mass Vehicle Ledger (MVL). The project is of interest for both car owners and buyers, as well as for companies that provide car rental services and taxi services. According to the creators, the number and volume of services in the transport sector have already reached the level when they can all be combined into a single ecosystem. It is about merging such structures as automobile production, car repair shops and service stations, insurance companies and other existing services into a single MVL platform.
The developers of the platform have found the successful solution of three main problems that the car industry is facing today. First, it's checking the background of a used car before buying it. At this stage, both a seller and a buyer may face risks. For example, how can an automobile owner be sure that his car was serviced in a reliable company and that all work was performed at the proper level? Similarly, a potential buyer will not be absolutely sure of the quality of the repair of the purchased vehicle. Of course, there are dealer companies where you can apply to purchase a car, but they will not become an absolute guarantee of reliability. Thus, the cost of a car will be determined by its mileage and service life. The higher the mileage, the lower the cost of a vehicle, even if a car is in good condition. This problem is even more acute for car rental companies. In addition, they often have to compensate for losses caused by the previous owner.
Second, the transport sector is still built on a regulatory basis, it lacks incentive methods that would encourage drivers to drive safely. In this regard, there is a need for an entirely new campaign to promote safe driving. And, finally, existing applications such as Uber or Didi are not integrated into a single platform, so the data is stored separately, and accumulated bonuses can be spent only within one of the platforms.
How do MVL developers solve these problems? First of all, MVL platform will integrate all automotive services and application data into one network. MVL register will include all the data on the operation of a vehicle, only an owner will control the data. Replenishment of the database with new information will be encouraged by scoring. Accumulated points can be exchanged for services related to the usage of cars or at gas stations. Along with the points, the company issues its own MVL tokens. They will be available for providing goods and services.
Data collection for each vehicle is carried out in five stages. At the first stage, the system loads data about the purchase of a new car. The second stage is the period of operation, it includes records concerning the purpose of using a vehicle, such as personal needs or commercial use. At the third stage is the idle period of a vehicle, data from a car service center about the state of a car, for example, repair or technical inspection, are recorded. Insurance companies can also make their data available. The fourth stage is the stage of a vehicle sale. MVL ecosystem receives data on the change of an owner of a car. At the same stage, the cost of a car is estimated, which is why it is so important to have a reliable background of its operation. After the report is formed, the system moves to the final stage when a car is removed from the registration and assigned to a new participant of MVL ecosystem.
Blockchain-based storage system will be formed in two stages. At the initial stage, Ethereum network will be used. As MVL ecosystem grows and grows, the developers will move to their own independent blockchain network. In addition, the platform has two data access systems. Thus, all data related to the background of a car operation, and information about its owner will be publicly available. However, each owner of a vehicle will have exclusive access to data on the external storage. So, the information concerning accidents involving this car, as well as the repair work carried out will be kept in an encrypted mode. If a potential buyer wants to obtain such information, only an owner can provide access to it.
Information concerning the token sale
At the project startup, all operations will be performed with MVL tokens based on the ERC20 standard. With the development of the platform, its participants will be able to exchange MVL tokens for MVL coins. The first stage of the pre-sale has already been completed. The second stage lasts until May 11, 2018. The cost of the token is calculated according to the scheme: 1 ETH = 240,000 MVL. The total number of tokens issued is 1 380 000 000 MVLs.
Website: https://mvlchain.io
WhitePaper: https://mvlchain.io/papers/mvl_white_paper_en.pdf?t=6
Telegram: https://t.me/mvlchain_en
Facebook: https://www.facebook.com/mvlchain
Twitter: https://twitter.com/mvlchain
Medium: https://medium.com/@mvlchain
ANN: https://bitcointalk.org/index.php?topic=3308357.0
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