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On January 21, 2019, Tada, the app of Tada jumping on board a blockchain, started operations in Vietnam after previous expansions in Cambodia.
New markets
Tada, a blockchain-based driving app has seen some expansion in recent times. The opening to Cambodia in 2018, and now, they have opened in Vietnam.
The company is headquartered in Singapore and its parent company, South Korean start-up Mass Vehicle Ledger (MVL), enters its third Southeast Asian market with this new launch.
Full speed ahead
The parent company had previously stated that after their launch in Cambodia, their next targets were Vietnam and Malaysia. There are also plans to bring the Cambodian tuk-tuk pilots on board by February 2019.
The rapid expansion of the company after finding success in Asia is not unexpected as the Asian markets have a large population of buyers and the ride-ride apps are quite popular there.
However, unlike other driving apps, Tada uses the blockchain which adds an additional level of efficiency to your system. The information is stored more accurately and there is more security.
For customers, this means that arrival times are calculated with greater precision and that the best routes can be determined in real time.
Image source: Flickr
For drivers, no commission is collected when passengers pay with the use of debit or credit cards and also have the opportunity to earn MVL digital tokens by regularly receiving positive reviews from passengers.
When the company first launched in 2018, great emphasis was placed on the choice of passengers and drivers. Drivers using Tada can use other apps that call laughter.
"We do not aim to have an exclusive agreement with the drivers, it's not our philosophy, they deserve to have choices," said Kay Woo, the founder of MVL.
By entering the market, companies also made it clear that they were not interested in competing with other companies, but rather carving out their own niche.
"We're not trying to capture the whole market, we can not do that – there's a giant that's already there, and what we want to do is bring the choice," Woo said.
Tada follows in the footsteps of other blockchain-based ride apps like Didi and VV Go.
Expansion
While the transition to Cambodia and Vietnam is impressive, it is certainly not the last of the company's plans.
For the 2019 year, the company intends to launch a Wallet app, as well as a rent-a-car service and driver platform to establish data sharing partnerships with other companies in the near future.
As of now, Tada has over 27,000 drivers and only 200,000 in Singapore and this number is only expected to grow when they expand into new territories.
