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South Korean blockchain startup MVL (‘Mass Vehicle Ledger’) launched TADA – its ride-hailing app – in Singapore last month. Meaning “Let’s ride” in Korean, TADA is built on MVL’s blockchain ecosystem and doesn’t charge any commission from its driver-partners’ fares. This means drivers can keep the entire fare paid by their passengers (minus any transaction fees when users opt for credit cards). TADA will award its MVL cryptocoins to partners who receive positive feedback from passengers, who are also rewarded with them when they leave a review.

The ride-hailing market has exploded by offering consumers affordable mobility as-and-when they need it. But many services (<cough> Uber <cough>) have seemed more focused on creating value for their investors than their drivers. Some years ago we wrote that for peer-to-peer platforms to be truly sustainable, they would need to create ‘mutually beneficial relationships’ – for the brand, customers and the providers. That’s been incredibly hard to do, but now blockchain promises to make peer networks more efficient, transparent and rewarding for their participants.

A few thoughts to take back to your team:

• If you operate in a marketplace economy, can blockchain offer a win-win solution: reducing costs (for customers) and increasing rewards (for providers)?

• MVL’s (TADA’s parent platform) ultimate vision is to collect – and share – driving and vehicle data to unlock value for its users. If data is the new oil, which wells are you drilling?

More broadly, this should remind you that even disruptors face the constant threat of disruption. No one is immune!