OmiseGo (OMG) and Singapore’s Mass Vehicle Ledger (MVL) TADA Taxi App o Use Blockchain and Cryptos
OmiseGo Signs MOU With Singapore’s Taxi App TADA to Improve Its Services Using Blockchain And Cryptocurrencies
Mass Vehicle Ledger (MVL), a company behind the popular taxi app based in Singapore, TADA, has signed a memorandum of understanding (MOU) with OmiseGo, a Thailand-based blockchain company, in a bid to explore the use cases of blockchain and cryptocurrencies in taxi business.
The partnership between the two companies is expected to introduce crypt payments to taxi services in Singapore. As per the agreement, the firms will collaborate on technical development and research to improve the TADA app.
Speaking about the matter, the managing director of OmiseGo Vansa Chatikavanji said that:
“We are pleased to sign an MOU with MVL to deliver a POC for their ride hailing service TADA….This serves as a step forward in our efforts to showcase the potential and benefits of the technologies.”
About OmiseGo And TADA
OmiseGo is a blockchain platform built on the Ethereum network. It offers payment providers flexibility, similar of Stellar and Ripple. The platform has already implemented the plasma protocol that allows the processing of transactions off chain to prevent congesting and make them cheaper and faster.
TADA, on the other hand is a Singaporean taxi app that already employs blockchain to offer its users cheap taxi fares. The company doesn’t charge commissions as is the case with other popular app such as Uber and Grab. So far, it has served over 100,000 users in Singapore, with around 17,000 cars registered.