Tada, a blockchain-based ride-hailing app formed under MVL in 2018, expands to Vietnam.
Tada, a blockchain-based ride-hailing application, has recently drawn a lot of attention. The Singapore-based company, under the umbrella of South Korean startup Mass Vehicle Ledger (MVL), started operations in Cambodia in 2018, but has recently expanded to neighboring Vietnam.
After Tada’s launch in Cambodia, parent company MVL stated that its next ports of call were Vietnam and Malaysia. It also disclosed plans to include Cambodian tuk-tuk drivers by February this year
The company’s rapid expansion in Asia is unsurprising, given the large populations of Asian countries and their affinity for ride-hailing apps.
Tada makes use of blockchain technology in its ride-hailing app. This ensures that information is stored correctly and securely, making their systems more effective. It also means that arrival times are usually well calculated, thereby reducing wait times for cabs.
Tada drivers do not collect commission when payments are processed via debit or credit cards. They earn MVL tokens by receiving positive reviews from passengers. When the company was launched in 2018, there was great emphasis on choice for both drivers and customers.
MVL Founder Kay Woo pointed out that Tada does not have an exclusive deal with drivers, who can work with other ride-hailing companies.
The company also made it clear that it is not out to compete with the numerous ride-hailing firms in Cambodia, but is entering the market to create its own niche, which is giving customers a choice.
Tada’s move to Cambodia and Vietnam, though impressive in its own right, hardly sums up the company’s plans for the year.
In 2019, Tada plans to launch a wallet app and a car rental and chauffeur platform, with the aim of establishing data-sharing partnerships with other companies.
Presently, Tada has over 27,000 drivers and 200,000 users in Singapore. These figures are expected to grow as the company expands.
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