Mass Vehicle Ledger Ecosystem (MVL Ecosystem) try a new blockchain-based ecosystem created to be used inside vehicle industry. Participants of the ecosystem are expected become individuals familiar with all the vehicle business – for example, car holders, engine vehicle manufacturers/retailers, motor vehicle repair and/or modification service services, engine vehicle insurance providers – and their participation inside ecosystem will allow them to upload core data concerning a certain automobile, including details about traffic injuries or repairs, into the blockchain.
Participants who provide data related to a vehicle will get MVL Points (MVP), that are an element of a reward system used to encourage contribution to the ecosystem. Participants of different roles can participate by giving accurate and transparent data relevant to vehicle management, travel, fix, transportation service etc. Therefore, blockchain information will likely be used by used-car dealers, self-driving automobile makers, insurance coverage companies and more. MVP can be utilized for marketing purposes, as points will show how well companies are starting; or can become exchanged to MVL Coin (MVL).