MVL - Car Lifecycle on Blockchain
We have a consistently growing car industry, plus an emergence of new forms of car usage, including car-sharing pools. Nowadays, people more often prefer to rent cars than to own them. As a result, cars constantly change hands, moving from private owners to Uber car fleets and vice versa. There is a number of typical problems related to this situation and car industry in general, including negligent car exploitation, reckless driving, low quality car repairs, and on top of all that, it's very hard to evaluate the conditions of cars sold on the secondary market. In a way, buying used car is always a lottery because the way it looks says almost nothing about its actual condition. The more reliable and comprehensive picture could be deduced, based on the car history, including records about traffic accidents it's been in, repairs, ownership history, etc. Such information can be procured, but it's not always accurate and reliable. Similarly, insurance and rental companies have the same headaches, trying to assess the trustworthiness of their clients and the level of risks involved in dealing with them. Here as well a certain amount of background information is available but it's usually far from sufficient to accurately evaluate the situation. The logical implication is that it would be cool having a unified system that would record the maximum amount of information related to car lifecycle. Also, it would be great if this information was reliable and preferably immutable, so the buyer of the second-hand car could be sure that car related records haven't been tampered with to make the situation look better than it actually is. And, by the way, the phrase "immutable record ledger" is almost synonymous to blockchain.
The MVL (Mass Vehicle Ledger) project is poised to tackle those aforementioned problems of the car industry. In fact, its ambitions are even more ambitious. It aims to create, no more no less, an integrated platform, aggregating all the data and services, currently distributed across a number of different platforms. This is another problem the project intends to solve. Namely, that data related to a certain vehicle cannot be queried from a single source; in fact, this data is scattered throughout multiple sources, each of which is related to one particular aspect of car exploitation. For example, there are separate records from rental services, repair shops, traffic control bureaus, etc. Additionally, it creates inconveniences for car owners and users in a sense that they need to register on multiple platforms. Plus, currently different regions and countries have each their own independent car rental and taxi services, so the potential clients are compelled to move from platform to platform every time they change the country, losing in the process their bonus and loyalty points. The MVL project is going to fix those issues as well, creating a platform and data storage, aggregating all the information, related to all the possible aspects of car usage, including rental and ownership history, repair records, data referring to traffic accidents and exploitation conditions.
According to project's concept, the whole lifecycle of a vehicle after it leaves the conveyer belt will be split into four phases:
On the first stage the initial information about a new car, its technical characteristics, and so on, is entered into MVL project's database.
The second phase is the driving phase. After the car is bought and put into operation, all the information related to its usage, including mileage, frequency, and intensity of exploitation, traffic accidents, etc., is recorded in real-time, which later allows assessing the vehicle's condition.
The third phase includes collecting information related to vehicle's maintenance and repairs. The data gathered on this stage among everything else contains reports and expert assessments of auto mechanics and repair services, allowing to get an even better picture of the car's current condition and its level of depreciation.
The fourth stage occurs when the car re-emerges on the secondary market. On this stage, all the previously collected information allows to accurately assess the level of overall damage that's been done to the vehicle in the process of its exploitation and to assign a reasonable price to it.
On the whole, the MVL project offers an interesting concept of using blockchain for storing and using product lifecycle-related data
Starting from April 26, 2018, MVL will conduct a pre-sale and ICO aiming to distribute 4,200,000,000 MVL Tokens
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Having the informations on the blockchain is the reliable one for me. they have this project where we can all have an advantage.