Partnerships are a great way to grow and increase adoption in the crypto and blockchain universe and OmiseGO is really using it well to its benefit to spread its wings across industries. The latest industry where OmiseGO has stepped in is the mobility industry as it is believed to have signed the MOU with TADA a popular Taxi app in Singapore.
OmiseGO to develop a Proof-of-Concept (POC) for TADA app
According to the recent news updates that hit the street, OmiseGo, the only blockchain project that has received the backing of Vitalik Buterin, has signed an signed a memorandum of understanding (MOU) today with Mass Vehicle Ledger (MVL), the company behind the popular ride-hailing app TADA. According to the agreement both companies will collaborate on research and technology development. It is believed both companies would come together develop a strong proof-of-concept (POC) for how blockchain, and the OmiseGo platform specifically, can improve the TADA app.
OmiseGo’s managing director, Vansa Chatikavanij announced this partnership and was quoted saying
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.
Based in Singapore, TADA already uses blockchain to offer users a cheaper cab fare. Unlike centralized services, such as Uber and Grab, the project does not charge a commission. Although the app only launched in the summer, it has picked up significant traction. So far more than 100,000 people in Singapore had used the service, with roughly 17,000 car owners registering as drivers. They have also expanded their services to other countries within the region, including South Korea and plans to launch in Vietnam, Cambodia, and Malaysia in the coming months.
Details and particulars of the MOU remain sparsely available in media, but this could definitely test OmiseGO’s capabilities.
TADA’s current blockchain records data on transactions, car movements, accidents, and traffic flow onto the MVL blockchain. The idea is the data can be recorded by MVL straight onto the OMG network. MVL’s CEO, Kay Woo, also hinted the OMG blockchain to improve payment options for TADA users. This might include offering options for consumers to pay for rides in cryptocurrency, as well as in the local fiat currency.
Certain sections of media also quoted Kay Woo, MVL’s CEO who was quoted saying
Utilizing MVL and OmiseGO current blockchain technology operation in Thailand, we expect to bring real-life use cases with TADA using OmiseGO’s Crypto payment,
This definitely is a great news for OMG token and OmiseGo project and we may soon see some spikes in the prices if this project goes through well.
What is your view on OmiseGo’s partnership strategy? Do let us know your views on the same
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.