Applications and Use Cases

New Ride Service TADA Partners with Tezos for Hybrid Blockchain Tech

July 15, 2021

The first blockchain-based ride-hailing company TADA, owned and operated by MVL Foundation, has formed a new partnership with TZ APAC, owner of Tezos,  to further develop the company’s data business with the support of hybrid technologies.

Starting in 2018, MVL has made a name for itself within the southeast asian transportation sector,offering customers ride services using blockchain technology for secure data storage. The company is also primarily focused on implementing green, sustainable business practices, including the production of electric vehicles for ride services. TADA’s partnership with Tezos will continue this initiative through the adoption of more environmentally conscious technology, including the use of Hyperledger Fabric and Tezos public blockchain.

"Having a partnership with TZ APAC is a huge step for MVL to expand its data business. We are grateful that MVL, together with TZ APAC, can successfully store all data generated and collected from TADA on the blockchain. On the Tezos protocol, both companies will team up to create a high-valued data business." said Kay Woo, CEO and founder, MVL Foundation.

This announcement is only one example of MVL’s dynamic shifts in business practices since TADA launched a few years prior. Last March, representatives of MVL stated the company would be unleashing a new blockchain system that works outside of the Ethereum network, due in part to Ethereum’s high costs and lack of sustainable features.

"We are delighted to work with MVL, one of the top mobility companies in Southeast Asia, to build both mobility applications and data brokers on the Tezos ecosystem. In addition to a more trustless environment and increased data accuracy, the project will enable individuals to monetise and have greater control over their data," stated David Shin, Head of Asia, TZ APAC.

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Edited by Maurice Nagle



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