Blockchain application

OmiseGo and MVL Partner For Development of Blockchain Applications

As per a press release, the Ethereum-based decentralised exchange, OmiseGo is partnering with the Blockchain protocol, Mass Vehicle Ledger to trial solutions based on Blockchain technology. Mass Vehicle Ledger or MVL is the Blockchain protocol on which the Singapore-based ride hailing app TADA operates; while OmiseGo facilitates financial inclusion as well as interoperability through its public and decentralised network.

According to the published press release OmiseGo and MVL will determine the suitability of OMG Network for MVL’s record keeping system through the development of a Proof of Concept. The Blockchain trial will require that MVL store the data collected through the ride hailing app TADA on the OmiseGo network. Furthermore, the collaboration between the two will also result in research and technical cooperation for potential Blockchain applications in TADA’s services.

Mass Vehicle Ledger launched a new taxi booking service, called the TADA Taxi in Singapore after it received the taxi provider license from the nation’s Land Transport Authority. As per a report published by the news portal Business Insider, as much as 2000 taxi drivers have joined TADA Taxi through partnerships with local companies.

In the past, various other taxi companies have tried exploring the potential integration of Blockchain tech in their businesses. The Chinese ride hailing firm, Kuaidi Dache announced in May that it plans to develop a Blockchain-based app for various services such as ride hailing and deliveries.

The automotive industry has not been far behind when it comes to the adoption of emerging technologies. At the Cebit ‘18 Expo in Germany, Volkswagen in collaboration with IOTA demonstrated a Proof of Concept protocol that utilised IOTA’s Tangle system for autonomous vehicles. That’s not all, the producer of Smart cars and Mercedes Benz, Daimler AG has released its own cryptocurrency called the MobiCoin. The coin is used by the company to reward drivers for their behaviour, such as driving at low speeds, driving in an environmentally friendly manner, etc.