MVL: Yet another Attempt to Connect Vehicle-Related Services.

The idea behind MVL Chain (Mass Vehicle Ledger) is not groundbreaking, still not irrational – they want to connect separate centralized vehicle-related services from the whole world in a single, incentive-based ecosystem and make all participants of the transport infrastructure happy. In what way, you wonder? Well, just by solving the problems of the current vehicle industry, which are numerous (at least, the project creators believe they are numerous). Do not you know what problems plague the modern vehicle industry? The MVL authors think they include:

• Subpar repair services
• Lack of transparency and consistency of information on used cars
• The absence of reward for safe driving

To address these and other associated problems and ensure a positive car-ownership experience, MVL will create a blockchain-powered framework for the global vehicle industry where its participants (car owners, retailers, service providers, insurance companies) will be fairly rewarded if they upload extensive data (documents, videos, and photos) on a particular car (such as, its Vehicle Identification Number, history of accidents, number of repairs, previous owners, etc.) to the MVL ecosystem.

Cannot you see the practical usefulness of MVL? Oh, there is some! Imagine you are going to buy a second-hand car and just want the peace of mind that the chosen auto is legally sound and does not have hidden flaws. Such information is very valuable but sometimes is difficult to get because greedy retailers hungry for cash will not tell you the truth. MVL Chain claims that you will no longer be fooled by unreliable car sellers thanks to their magic platform which will record detailed information about every car on its own blockchain. Also, using the MVL platform, workers of car-care centers will provide information about repairs and maintenance checks of a specific car, thus allowing you to take a weighted decision before purchasing and avoid unpleasant discoveries under the hood.

MVL Ecosystem

The project’s ecosystem is presented by three main components:

1. The Blockchain Layer is external distributed storage, collecting, storing, and processing information about a vehicle’s lifetime. The blockchain will run on Ethereum at first, but over time, all the data will migrate to their own blockchain after the launch of their mainnet.

2. The Service & Component Layer presents a software development kit (SDK) and allows developers and third parties to access the blockchain data and build services and dapps on the top of MVL ecosystem.

3. The Application Layer will manage and control all dapps and services build on the base of the Service & Component Layer.

Delving Into MVL Case Studies

What kind of services will MVL provide? Who ultimately will benefit from this not-too-innovative, yet interesting product? Let’s try to understand.
MVL Wallet. The platform users will be able to have an MVL wallet to keep their MVL coins and pay with them for different services provided by the system.
Rental Car Service. The platform will create extensive car-for-rent listings so that customers will be able to hire a car that will fully satisfy their needs.
On-Demand Chauffeur Hiring Service will connect customers who need a ride with drivers who can give a ride on-demand. Notably, drivers with good driving behavior will receive a higher reward compared to reckless drivers.
Car Sharing Platform. MVL will enable car users to sub-lease their cars to someone with appropriate driving habits.
Used Car Market will help buyers to find a well-conditioned auto with a complete lifetime history.
Car Repair Platform. MVL will incentivize mechanic shops for uploading accurate data on a certain car’s repair history.
Insurance Services. Insurance companies can analyze the history of a car to offer a driver a personalized, fair insurance plan.

What is Wrong With MVL?

Despite all promised benefits and blessings, I am personally not very excited about MVL project and not without reason. Further, I will explain.
A complicated reward system. Participants will receive MVL Points (MVP) for their contribution to the network. If users want to use some service or buy some goods through the platform, then they will need to exchange their MVPs for MVL coins in an MVL pool, but the proportion is not 1:1! The quantity of MVL coins which users will receive for their points is calculated by a very complex formula. In the era of optimization and simplification, it is not what we all expect from such a project.

Innovation. The project cannot be called a breakthrough in the vehicle landscape. There are dozens of other platforms and marketplaces serving practically the same mission. Uber (USA), DiDi (China), Kakao (South Korea), CarPrice (Russia) are large companies delivering the same services but they have already earned recognition and adoption in their countries while MVL is just a futuristic project with a nebulous roadmap.
No alphas-betas. Unfortunately, there is no information about releases of the test-versions of MVL. Before putting money into a project, every crypto enthusiast and investor would like to “know how it feels”. According to their development plan, the MVL application with a limited functionality will be launched somewhere in the 3Q of 2018 with the main app updates coming at the beginning of 2019. By this time, the vehicle industry will definitely entertain some more decentralized car-related platforms because rivals never sleep!

MVL ICO Details

Pre-ICO 1st Round: April 26, 2018 – May 2, 2018
Pre-ICO 2nd Round: May 3, 2018 – May 11, 2018
Main ICO: May 15, 2018 – May 24, 2018

Token Code: MVL
Token Type: ERC-20
Available for ICO: 29% (8,700,000,000 tokens)
Hard Cap: 24,800,000 USD
ICO Token Price: 1 MVL = 0.0028 USD (0.0000041667 ETH)
Know Your Customer (KYC): YES
Minimal/Maximal Purchase: 0.1 ETH / Pre 1: 100 ETH, Pre 2: 200 ETH, Main: 300 ETH
MVL Token Value: 1 ETH makes 240,000 MVL
Total Token Supply: 30,000,000,000
Accepts: ETH
Unsold Tokens: burned
Company: MVL FOUNDATION PTE. LTD., SINGAPORE

Conclusion

MVL Chain is essentially a rich car database placed onto the blockchain with an ambition to grow into an international vehicle-related ecosystem, bringing drivers, car service providers, insurance companies, retailers, and other members of the transport infrastructure under one roof. The project itself is not pioneering – there are enough competitors to nip MVL in the bud. Still, if they succeed, the global vehicle community will enjoy a transportation hub with lots of related services and information to be easily accessed from a single application.

Useful links

Website | Whitepaper | Telegram | Twitter | Facebook | Blog
Authored by: Will.Smith (@iwgeiw)
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