What is Mass Vehicle Ledger (MVL)?

Mass Vehicle Ledger is a blockchain mobility system that exchanges mobility data of all participants at fair value, transparently. The system also integrates all mobility-related services into one. 

Mass Vehicle Ledger has developed a new blockchain-based ecosystem that has been created for use in the automotive industry. Participants in the ecosystem are expected to be familiar with the automotive industry.

The MVL ecosystem allows users to record all activities related to a particular vehicle for its lifetime and prevent these records from being corrupted. Only the owner has authority over the data stored on the blockchain. Earlier, only a few centralized services monopolized data, but now the power over the ownership of information is evenly shared among people. Various participants in the automotive market can continue to add reliable data and connect to the ecosystem.

Users who provide vehicle data earn MVL points (MVPs), an element of the reward system that promotes contributions to the ecosystem. Different users can give contributions like accurate and transparent data related to vehicle management, driving, repairs, transportation services, and more. 

Therefore, blockchain data is used by used car dealers, self-driving car manufacturers, insurance companies, etc. MVPs can be used for marketing purposes because points represent a company's performance. Also, users can exchange it for MVL token (MVL).

The MVL ecosystem issues its native cryptocurrency (MVL coin), rewarding blockchain miners who manage and record vehicle data. The token is used to interact with other MVL users. The primary utility of the MVL coins is to trade goods and services in the MVL ecosystem. Other utilities include car-sharing services, acquiring vehicle parts, paying for repairs and gas, and getting new vehicles. All automotive goods and services traders have the appropriate licenses/licenses to trade such products, and such exchanges are made within the border. 

History of Mass Vehicle Ledger

The MVL team includes Kay Woo (CEO), Jaehwa Han (CTO), Woosung Son (CSO), and full-stack engineers Myunkyu, Park, Jineok,. Kim, Jiwoong, and Park (engineer), among others. The total supply of MVL tokens is thirty billion coins. The whitepaper was published in January of 2021.