Why MVL? – 2 What MVL can solve : How MVL Works

Hello, we are MVL.

Last post we learned about problems of current mobility system. Those were, in other aspect, chances that MVL can reach and solve..

Today we will talk about some points where MVL can be applied, and figure out concrete ways how MVL could solve those problems.

Last Link : What is MVL? / Current Problems of Mobility System

MVL Realization Plan ① : Smartphone Application → OBD Device – Data Collecting Method

MVL collects accurate data from the vehicle, and provides accurate status of your car with those data. How is MVL capable of doing this?

MVL is planning the development of data collection method in two steps.

First Step _ Smartphone Application

MVL allows you to check the status of your vehicle through MVL application.

First, the identification information of the vehicle is registered by the QR code scan function built in the MVL app. This is to store car information inside the app when you buy a new car or start the MVL app for the first time. When driving a vehicle, it uses sensors such as GPS sensor, acceleration/geomagnetic sensor inside the phone to determine the superficial condition of the vehicle.

Second Step _ OBD Device

MVL plans to use OBD devices in future.

When MVL OBD device is mounted on a vehicle, more sophisticated data, including internal data of the vehicle, can be collected. ECUs(Engine Control Units) that control the vehicles interact vehicle status data and status change commands with each other via CAN(Controller Area Network). In short, parts that move the engine communicate with each other through the network to know the current status of the vehicle. MVL will launch an MVL OBD device, a data collector that gathers this information and selects/records necessary data. This device enables accurate data collecting of the vehicle and allows you to record complete information about your vehicle.

MVL OBD device is expected to be released in the first half of 2019. With these collected data, reasonable services can be provided to MVLERs™.

For example, data collected through an MVL app and an OBD device can result in a fair insurance fee depending on individuals’ driving habits. You can diversify insurance product designs or services, in a way which receives higher premiums for those who drive wildly, and lower premiums for those who drive safely.

In addition, with the incentive given, an insurance service consumer has more reason to drive safely. This will change drivers’ driving habits and insurance companies will be able to reduce the excessive insurance claims, saving social costs overall.

MVL Realization Plan ② : MVL Coin – Maintaining Ecosystem

In MVL ecosystem, there are two kinds of currency, ‘MVL Coin’ and MVL Point’.

As you can see from the picture above, the base currency in the MVL ecosystem is the MVL coin. It can be used in various places such as car rental companies, gas stations, mechanic shops, etc. that exist in the MVL ecosystem. MVLER™ could use MVL coin as cash to use services in the real world. You can also exchange your MVL coin into real money at exchanges.

You can acquire MVL coin through exchanges, or mine it directly after the mainet is prepared and a unique MVL blockchain is built.

(We’ll talk more about blockchain system and the mining system later.)

Service providers in the MVL ecosystem can earn MVL coin for providing good services, and vehicle owners can earn MVL coin when they provide rights to inspect the data of their vehicle.

MVL point is an incentive that can be exchanged to MVL coin. You can earn MVL point from various areas. For instance, when service providers provide a good service and service users write a good review for them, they can earn MVL point as an incentive. Vehicle owners can also earn MVL point through safe driving.

Furthermore, MVL point could be an indicator of the contribution and influence in the MVL ecosystem. In other words, you can see how much you contributed to the ecosystem through MVL point. Car service providers will be able to promote their business by purchasing MVL point with their MVL coin, which means you can also have an advertising effect with MVL point.

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