Ride hailing app Tada, developed by South Korea’s start-up Massive Vehicle Ledger (MVL), is scheduled to offer its car hailing services in Ho Chi Minh City on January 21, adding heat to the market that has seen fierce competition among Grab and other foreign and local providers, Vietnam Finance reported.
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According to MVL, Tada is based on its mobility ecosystem with a blockchain system and was first launched on July 26, 2018 in Singapore.
MVL connects all vehicle-related services by recording various data such as used car transaction history, navigation data, travelling data, car mechanic history, and car accident history on one blockchain system.
Kay Woo, Tada’s founder, said the service could cooperate with Grab or others similar companies in the future by establishing an ecosystem to connect all mobility services in one.
In addition to Tada, the MVL ecosystem includes other services related to cars such as navigation, gas station, mechanic shop, insurance, among others, said Kay Woo.
By using a service within the MVL ecosystem, participants could earn MVL point and be able to pay with MVL coin. Within the ecosystem, drivers with positive feedback from passengers could also receive MVL points, which are exchangeable to other benefits. Similarly to a car mechanic providing services or rider using transportation services and leaving review.
MVL raised US$16 million through its initial coin offering (ICO) in early 2018.
