May 13, 2019
Ride-hailing company Tada, a brand of Singapore-based tech firm MVL Technology, announced that it has entered Cambodia through a first branch in Phnom Penh.
Tada claims to be one of the first consumer applications in the world to utilise blockchain technology. It promises zero commission taken from the drivers. The app was launched in Singapore last July.
“Our purpose has always been to improve the lives of drivers, create a better experience for riders and deliver a trusted ride-hailing application through innovation for all our users,” said Kay Woo, Founder and CEO of MVL.
Tada collaborates with Pi Pay, a digital payment application based in Cambodia, and Alipay to facilitate digital payments. According to Tomas Pokorny, CEO of Pi Pay, the collaboration marked another step forward to encourage more Cambodians to adopt cashless payments in the digital era.
Representatives from the Cambodia Chamber of Commerce and Tada’s driver partners were also present to witness the signing of a Memorandum of Understanding between MVL and Pi Pay.
To date, Tada said it has operated in Singapore, Vietnam and Cambodia with more than 30,000 drivers and 230,000 users.
Tada’s blockchain technology tracks and saves all the driving data. For instance, traffic information collected during a trip can be useful to autonomous driving research companies.
The use of blockchain also yields other benefits, such as better security, the elimination of a middleman and scalability that allows any number of users to participate.
Apart from ride-hailing, Tada plans to integrate other key players within the industry, including used car services, auto insurers and even vehicle repair shops. Its blockchain platform will track and gather data on all these vehicle activities, and with the consent of its users, the data might be sold to researchers or related transport companies for revenue.
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