Today we are watching the growth of the vehicle industry over the past century. Thanks to the rapid growth of this industry, jobs in various fields, such as logistics, distribution, car repair and used car sales, have increased.
However, despite the rapid growth in production, the number of problems is also increasing. For example, there are still unsatisfied taxi drivers, and there are still no reliable mechanical stores. Relatively new technologies tend to persistently solve these problems, but then these actions entail an increase in customer fees and prices for the goods.
There are many IT services related to repair, insurance, carpool and cabs that help address these issues. These tools have connected suppliers and customers, but commissions occur to prompt higher customer price. Also, users have too many different apps to go about their business. What’s worse is that these centralized services that store data in their own servers do not bring balance to the market. This is because when an app garners high daily users, it is only the makers who gain high return. These platforms do not radically lift the living standards of its participants. Also, these ride services are triggering dispute with the traditional cab services. It can do better to bring social change.
MVL (Mass Vehicle Ledger Ecosystem) is a new blockchain-based eco- system created for use in the vehicle industry. Participants of the ecosystem are expected to be individuals familiar with the vehicle industry – for example, car owners, motor vehicle manufacturers/retailers, motor vehicle repair and/or modifi- cation service providers, motor vehicle insurance companies - and their participation in the ecosystem will allow them to upload core data relating to a specific car, including information regarding traffic accidents or repairs, into the blockchain.
HOW IT WORKS
With the MVL Ecosystem, we can maintain records of all activities relating to a particular vehicle for 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.
Through the reward system, participants will receive MVL Points (MVP) in exchange for accurate and active data collecting. Those who play their role and put in different types of data to earn MVP, which they can use to promote how well their business is doing or exchange it to MVL Coin (MVL). MVL can be traded with other participants in exchange for goods and services such as gas, repairs, or car rental. All sellers of car-related goods and services will be appropriately licensed/ap- proved to sell such products and any such sale will occur within national boundaries. Now people no longer have to rely on used-car dealers to get a good price.
The MVL Ecosystem can be used by car makers, transportation operators, used-car dealers, rental car companies, insurance firms, car owners, car providers, passengers and other related parties, and different rules apply to different participants.
- First, in the new car phase, a newly manufactured vehicle is handed over to an individual or a business owner. When data on the new vehicle is entered into the MVL Ecosystem, it will be the first time the car will interact with other participants in the MVL Ecosystem.
- In the driving phase, participants drive their cars for personal use or business (e.g. driving a cab). The car owner and driver (whether they are individuals or companies) and the passenger will be the participants in this phase.
- In the non-driving phase, a vehicle is evaluated, fixed and maintained. Here, other participants like the insurance company and mechanic shop who are neither the owners nor driver of the vehicle become involved. These participants upload data to the MVL Ecosystem that is important in assessing the value of a vehicle. Gas stations or car washers can also contribute data to the MVL Ecosystem in this phase.
- The fourth phase is the used-car trade phase, where the owner of a car changes as a car is bought and sold. The ownership of a vehicle can switch from a company, such as a car rental company, to a private individual. The MVL Ecosystem seeks to ensure the car is accurately priced based on the data uploaded to the MVL Ecosystem in the new car, driving and non-driving phases.
- The final phase contemplates many transactions occurring among individuals and businesses alike. After a vehicle finds new owners, the vehicle goes through the driving, non-driving and used-car trade phases again until it is eventually scrapped.
INCENTIVE MODEL FOR MAJOR PARTICIPANTS
THE PROJECT TEAM
Token Name: MVL
Token Type: ERC20 (ETH Only)
Soft Cap: 1.5Bn MVL
Hard Cap: 8.7Bn MVL
Total Supply: 30Bn MVL (Tokens will only be issued once.)
Token Value: 1ETH = 240,000MVL
Minimum TX Amount: 0.1 ETH
Maximum TX Amount: 100 ETH
DISTRIBUTION OF FUNDS
Using the blockchain, MVL will connect vehicle-related services and solves various problems that currently exist in the mobility industry. In the long run, futuristic mobility, like drone taxi, self-driving vehicles and electric vehicles will also be added to the ecosystem. In this ecosystem, all participants will have ownership of their data and grow with the ecosystem.
ANN THREAD https://bitcointalk.org/index.php?topic=3277738