MVL stands for Mass Vehicle Ledger.
What Is MVL?
Mass Vehicle Ledger is a blockchain system that obtains mobility information transparently and it integrates all mobility-related services into one framework.
It allows users to register all activities for a particular vehicle and stops these records from ever being corrupted or damaged. Only the owner of the vehicle will have access to the data which is stored within the blockchain.
Those who allow the vehicle’s data to be stored in the blockchain will earn MVL points, which is sort of a reward system that acknowledges contributions to the ecosystem. The vehicle’s data can be related to driving, repairs, vehicle management, maintenance, transportation services, and much more.
This data can then be used by self-driving car manufacturers, used car dealers, insurance companies, and other parties. It’s data they can use to improve their services & products.
How Does MVL Work?
The MVL ecosystem rewards the blockchain miners that record and manage vehicle data, with its native MVL coin. The primary usage of MVL coins is to trade services and goods in the MVL ecosystem. Other benefits include paying for gas and repairs, car-sharing services, purchasing new vehicle parts, and even buying new vehicles.
Also worth mentioning that those who sell the goods and services already have the correct licenses to trade such products.
The History Of MVL
MVL was co-founded and developed by Kay Woo (CEO), Jaehwa Han (CTO), Woosung Son (CSO), and full-stack engineers Myunkyu, Park, Jineok,. Kim, Jiwoong, and Park (engineer), among others.
MVLchain secured funding rounds amounting to $5 million of dollars last year. South Korean venture capital firm SV Investment was one of the sources of the funds.
Is MVL A Good Investment?
Between collaborations and innovations, MVL can continue to grow in users and adoption, making it an attractive incentive to hold the coin for the long run.
As you can see on the graph below, the highest that MVL has ever reached is $0.06 back in March 2021, and then a few months later it dropped to below $0.01. MVL is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current MVL price data, click here.
Should You Buy MVL?
The current vehicle market is either centralized or disconnected from each other, which is why the MVL ecosystem would shake things up. They would reward participants, share profits with decentralized services and integrate with vehicle services & products, making it a win for everyone.
If you have done research on the team, vision, whitepaper and you are satisfied with what MVL has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
How Many MVL Coins Are There in Circulation?
The total supply of MVL is 30 billion coins.
Where Can You Buy MVL?
If you would like to purchase some MVL coins, below are a handful of cryptocurrency exchanges which list them.
- MEXC
- Upbit
- Poloniex
- Biswap
- Binance DEX