Singapore’s blockchain ride-hailing service TADA’s MVL has signed Memorandum of Understanding (MoU) with Thailand-based Ethereum payment platform OmiseGO to develop a Proof-of-Concept (POC) with both technologies combined.
The POC required will have both companies closing technical cooperation and research on the actual use of blockchain technology in TADA, the ride-hailing platform in Singapore operated by MVL.
The POC later will be used to verify the suitability and performance of the OMG Network for MVL’s data record-keeping system. MVL will record data generated from their ride-hailing service TADA on OMG Network.
The POC will also pursue technical collaboration and blockchain research.
“Utilising MVL and OmiseGO current blockchain technology operation in Thailand, we expect to bring real-life use cases with TADA using OmiseGO’s Crypto payment,” said Kay Woo, MVL’s CEO.
Claiming to be one of the world’s first mass adopted blockchain products with its blockchain-based, zero-commission ride-hailing application, TADA plans to socialize the adoption of products and services backed by blockchain to the public.
“This partnership will allow OmiseGO to learn about MVL’s deliver reliability and transparency with their incentive structure, data recording, and sharing ecosystem – values that we appreciate and subscribe to,” said Vansa Chatikavanij, OmiseGO’s Managing Director.
With its blockchain incentive offer, MVL is focused on driving the mass adoption of its mobility blockchain service through TADA. Currently, TADA claimed that more than 17,000 drivers and 100,000 users are actively using its service in Singapore.
TADA plans to launch in key Southeast Asian countries such as Vietnam, Cambodia, and Malaysia in the coming months.
Founded In 2017, Bangkok-headquartered OmiseGO’s primary products are the eWallet Suite and the OMG Network for decentralized payments and exchange platform which uses an underlying scaling solution known as plasma. The company allows the issuance, buying, selling of, and payments using tokenized assets.