Introducing MVL Token
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MVL is Incentive-based Blockchain Mobility Ecosystem.
By analyzing each service, we can figure out fundamental problems.
MISSION:
Vehicle-related administrations are tangled up in the vehicle advertise. How might we make sense of this?
Most existing services only connect two participants in their own centralized platform, like driver and customer, mechanic
and customer and so on. Each platform solves their own problems and there is no overall system that connects different
platforms to solve bigger problems. But the vehicle-related markets in reality are connected because they all commonly
need vehicles to operate. The markets can create an ecosystem. If we find the common enemy of these existing services,
we can trace a solution. Let’s look at a big picture to find the fundamental problems.
First of all, the vehicle scene is regulation based, not incentive based. For instance, voluntary driving safely benefits the
society but no reward is given. Only penalty exists for drunk driving and speeding. There is no actual motivation for people to drive properly because all you need to do is not get caught. Government penalty brings order to individuals on the road, but too much cost is poured into busting those who bring disorder. Campaigns aren’t effective. We need to bring an
incentive program to promote safe driving. This system will not only touch individual drivers, but transportation operators to deliver quality service.
Secondly, each service is centralized. There are many IT-based ride hailing mobile applications that are independent services backed by rigorous investors to dominate the market[10]. It is the drivers and users who also fuel the services’ growth. But those who get the high return are the investors, shareholders and founders. The dedication of the drivers and customers are not properly rewarded. This does not meet the full meaning of shared economy. The more this takes place, the less motivated the participants will be to participate.
Next, the separate service models are disconnected. Let’s take a look at different ride sharing app all over the world.
China’s Didi, United States’ Uber, Lyft and South Korea’s Kakao T provide the same service, but are separate platforms. An Uber user from the States needs to go through the hassle of downloading the Kakao T application when he or she visits Korea and needs to book a ride. This is the case for other vehicle-related services, like repair and car wash. Due to such disconnection, data is stored separately and points or coupons are not usually usable in multiplatforms.
MVL Ecosystem?
Gathering the data of a vehicle’s lifetime is a great motive that brings separate car services into a single incentive-based
ecosystem. Separate centralized services have their own server where data is managed independently and they were far
from being able to collect a vehicle’s lifetime data effectively[11]. Repair services only collected data related to repairs, navigation services only gathered driving data and so on. Also, different vehicle data were easily distorted, not being able to gain trust from the market. Data gathered by mobile applications falls into the ownership of the makers and the contributor were not given access to it.
MVL Ecosystem will tackle these problems down by applying the blockchain technology. With this, we can track a vehicle’s lifetime activities and continuously collect data safe from distortion. 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 Ecosystem will motivate dedication of its participants with an effective reward system and solve many problems. The ecosystem will have a system that allows participants to evaluate each other to promote reliable data collecting.
Participants, like drivers, mechanics and car dealers, will get various rewards, called MVL Points (MVP), to promote 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 used to trade with other partici - pants to get gas, repairs, car rental and so on. Now people no longer have to rely on used-car dealers to get a good price. They have accurate data in their hands to prove a used car’s value. Now, people can earn MVL if self-driving car makers or insurance companies purchase their vehicle data through MVL Ecosystem.
MVL Incentive
-- New Car Phase- Beginning of Blocks (Open Trust).
-- Driving Phase - Continuous Recording on Blocks (Revolutionary Change).
-- Non-driving Phase - Discrete Recording on Blocks (Basis of Trust).
-- Trade Phase - Change of Ownership (New Contributors)
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