MVL

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What is MVL?

MVL, pronounced as “em buh l,” stands for Mass Vehicle Ledger. It is an ecosystem that connects all services, like the car dealer shops, mechanic shops, car rental companies and more, that touch your car to collect its lifetime data.

Anyone who contributes to data generation and have a positive impact on the car ecosystem will be rewarded. Private drivers can be awarded for safe driving, taxi drivers can be awarded for good service and mechanics can be awarded by registering their maintenance records on the blockchain. These rewards will be given in the form of MVP (em buh l points). Vehicle owners can also use the data recorded in the blockchain to make fair deals with used-car dealerships and earn revenue by selling vehicle data to vehicle companies, the government, researchers, insurance companies and more.

What Problem Can MVL Solve?

In particular, there are two main reasons for envisioning an ecosystem model that provides incentives, which is quite different from other vehicle-related blockchain projects. First, by introducing incentives to ecosystem participants, we induce autonomous blockchain recording by individuals. We thought that there would not be many users who will put all their driving information into the blockchain in order to save a small amount of money in used car transaction that only happens once in a while. Next, the ideal ecosystem model envisioned by the MVL team is a model in which participants who contribute to ecosystem get rewards. The current structure is unreasonable, since participants do all the REAL work, and all large platform companies are taking advantage of all their wealth and data in forms of stocks, etc., and there is no benefit for those involved in the ecosystem. The data provided by individuals is of great benefit to companies, but it is difficult for individuals to benefit from them. The value of the platform enterprise is increasing exponentially with the number of ecosystem participants and is monopolizing that wealth, but the actual contributing participants are not getting the benefit.