Check MVL's Blog to get insights into

MVL's project-building journey

Check MVL's Blog to get insights into

MVL's project-building journey

Blockchain[MVLog] Introducing MVL DePIN Ecosystem: Unlocking the Power of Mobility Data (Part 1)

3 May 2024

DePIN: Mobility infrastructure network built together with users

MVL is innovating the mobility market through blockchain. At the heart of this innovation are TADA, Singapore's second-largest ride-hailing service operated by MVL, and ONiON Mobility, an electric vehicle and energy infrastructure operator in Southeast Asia.

In this way, the solid mobility infrastructure that MVL has built over the past six years is generating vast amounts of mobility data with many users in major cities in Southeast Asia. This mobility data is not only used to improve mobility service quality, but is also used in various fields such as real estate, urban policy, and AI-based analysis to create new value. Additionally, in the MVL ecosystem, participants can share their mobility data and receive compensation based on their contribution.

This extensive mobility data ecosystem that MVL is building is known within the blockchain industry as the keyword DePIN (Decentralized Physical Infrastructure Network). The key concept of these DePIN services is decentralized infrastructure operations, where multiple participants can operate the data infrastructure together and share the value of the data generated.

MVL's mobility DePIN can be broadly divided into three parts depending on the characteristics of each service and the type of data collected from participants.

1. Mobility Network

TADA is a ride-hailing service used by more than 3 million drivers and passengers in four Southeast Asian countries: Singapore, Cambodia, Vietnam, and Thailand. MVL's mobility network essentially serves as a comprehensive data system tracking the movement of both people and capital throughout the entire service region. Each driver and rider utilizing TADA acts as an individual node, collectively forming a trip network in real-time. Afterward, these users become eligible to receive MVL token incentives according to their data contributions, which they can then utilize again within the service.

Anyone can access a fraction of this massive mobility network data that MVL has established through the MVL Depin  website. At present, real-time trip requests, trip frequency, and data regarding the pick-up and drop-off locations of TADA users are accessible on this website, and we plan to gradually expand our disclosure.

TADA's DePIN data not only improves the quality of mobility services, but also creates added value when combined with data from other fields. For example, when combined with map data, we are identifying major call occurrence locations and traffic patterns by time zone to improve the accuracy and matching ratio of mobility services. Additionally, through collaboration with partners, it can be used for real estate valuation, commercial analysis, and urban planning support. In particular, the merging of data in Web3 presents an opportunity for creating more value. As a result, we anticipate that the utilization of MVL DePIN's mobility network data will continue to grow over time.

 2. E-Vehicle & E-Bike Network

ONiON Mobility, a subsidiary of MVL, specializes in producing and selling electric vehicles and electric bicycle infrastructure. In Cambodia, there are over 700 electric vehicles and bicycles in operation daily, including the ONiON T1 and ONiON X series. Owners of ONiON vehicles enjoy the advantages of affordable electric vehicles and also receive token incentives for sharing driving data.

Given the way vehicle assets depreciate with mileage driven, driving data stands out as the most crucial factor in determining their value. This data is still used in the existing traditional vehicle market to determine used car sales, rental, and lease financing prices.

In addition to the value of the vehicle asset itself, new financial products can be created by combining the vehicle's financial information, such as rental fees and operating expenses associated with the vehicle. In particular, utilizing blockchain technology makes it easy to combine various data and rights, providing a better basis for proving the existence of assets and assessing their value. This enables investments in real assets that span across borders.

MVL plans to enhance the reliability of key data, such as the model year and mileage of vehicles operating in Southeast Asia, through collaboration with several blockchain specialist groups, including data oracles and validators. With this framework, investors can monitor the location of their vehicle assets and review their driving history at any given time, empowering them to invest with confidence. This model, which combines vehicle life cycle data (vehicle DePIN) and financial data (private data) as NFTs on the blockchain, forms the cornerstone of MVL's initiative in Real-World Assetization (RWA) for vehicles.

As mentioned earlier, anyone can access the real-time mileage data of ONiON vehicles and bikes at MVL Depin. The vehicle network provides detailed information about the vehicle's real-time driving status, location, and mileage. It also offers interactive features that display the driving route, total distance traveled, and connected battery status and performance for each individual vehicle.

3. Energy Infrastructure Network 

In addition to mobility services, MVL’s DePIN extends its reach into energy infrastructure, with a network of over 2,500 swappable batteries and 16 E-stations in the two largest cities in Cambodia. There are plans to expand this network to other countries in the near future. MVL's energy infrastructure network enables seamless integration with electric vehicles and other energy-dependent systems.

MVL's energy infrastructure network entails the collaborative management of battery assets and the joint recording of battery life data with various partners, including PTT and Total Energy. MVL plans to collaborate with multiple partners, utilizing asset management and blockchain technology, to introduce innovative products like battery assetization (RWA), energy collaborative management networks, and other offerings.

Introducing MVL's Innovative Ventures: Mobility DePIN and RWA

Looking back at 2018, MVL's TADA entered the ridesharing market, which was dominated by large monopolies, as a latecomer and many thought it would not succeed. However, over the past six years, we have changed the traditional mobility market by utilizing completely new strategies such as DePIN and zero commission.

Lately, the blockchain landscape has seen a surge in new projects aiming to bridge the gap between the physical world and blockchain, such as DePIN (Decentralized Physical Infrastructure Network) and RWA (Real-World Assets). 

In light of this trend, we've been receiving numerous collaboration proposals from various partners, including TADA's successful integration with DePIN and ONiON's partnership for vehicle RWA. As a result, MVL plans to enhance its visibility and impact by engaging in more collaborations and marketing efforts within the global blockchain community.

In our upcoming blog, we'll delve deeper into TADA's success story, showcasing how it has leveraged DePIN's capabilities—an aspect that many people are eager to learn about.

Thank you.


40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.

40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.