Climate change is getting worse by the day, thanks to our rapidly progressing living standards. One of the major contributors to climate change and global warming is vehicles. It is important to shift to eco-friendly vehicles to reduce the emission of CO2 into the atmosphere.
While developed economies are shifting to green alternatives as part of regenerating the planet, developing economies don’t have the infrastructure to support the growing number of e-vehicles on the road.
In this article, we take a look at how eTukTuk transforms public transport in developing economies using blockchain technology and cryptocurrencies. But before that, let’s take a quick look at the challenges ahead of us.
The problem is multi-layered
- To begin with, there is a significant lack of charging infrastructure across the world, especially in developing economies. It stands in the way of phasing out carbon-intensive vehicles.
- EVs are expensive. While the initial capital of carbon-intensive vehicles is low, they cost more in the long run. The price-hikes in fuel (by as much as 50% in some regions in short intervals) are known for bringing economies to a standstill.
- There are 270,000,000 ICE TukTuks on the road globally. If you thought that number was big, it is set to rise to 400,000,000 by 2050.
- Most developing economies are cash-heavy. Both drivers and passengers have restricted access to digital payments.
eTukTuk – Powering the future of transportation using the BNB Chain
eTukTuk, despite being a new project, has garnered a huge level of attention with over 15,000 signed up on its presale whitelist. Its goal is to launch affordable and widely accessible charging and EV solutions in developing economies. It will begin its journey in Sri Lanka, later this year in 2023. Currently, there are 1,200,000 traditional internal combustion engine (ICE) TukTuks on the roads of Sri Lanka, 70% of which are in Colombo.
The project will install a network of advanced charging stations and eTukTuk electric vehicles in Sri Lanka to help drivers make the switch from internal combustion vehicles without friction.
An overview of the eTukTuk network
With eTukTuk’s entry, the operational expenditure and maintenance of TukTuks will be cut down by a significant margin, allowing drivers to take home up to 400% more pay. The utilization of blockchain technology lowers the cost of transactions, removing traditional transaction fees from the equation.
The network brings drivers, passengers, and other participants under one umbrella and gives them the opportunity to consistently earn rewards. And of course, they can benefit from the increasing use and expansion of eTukTuk’s charging infrastructure. The reward potential increases with network growth and expansion, paving the path for accessible transportation.
Safer, Cleaner, Fairer
The World Health Organization reports that 99% of us are breathing polluted air. And according to the UN Environment Programme, Internal Combustion Engine TukTuks emit more CO2 than a car. Although there have been many attempts to launch two and three-wheeler electric vehicles (EVs) on a large scale, the lack of charging infrastructure worldwide limits the scope of the switch. The fact that EVs are also prohibitively expensive limits its feasibility.
Flow of rewards
This is where eTukTuk motors in. It utilizes the BNB Chain to give people digital identities and access to financial opportunities. The project revolutionizes the way we travel by introducing a dynamic, multi-revenue model that balances sustainability with innovation.
eTukTuk uses LFP batteries instead of Lithium Ion batteries, which are much safer. The green ecosystem, underpinned by crypto incentivization, supports the expansion of eTukTuk’s scalable network of charging stations and eTukTuk proprietary EVs.
📢📢 Announcement 📢📢
From being unveiled at World Economic Forum, Davos to raising a community of over 40,000 people we for sure have come a long way.
Looking back at what we’ve accomplished this year and the road ahead.
Presenting our roadmap for 2023.#Roadmap #eTukTuk pic.twitter.com/KpUZ7FKQWI
— TUK Token (@TukToken) June 19, 2023
A Large Network of Eco-conscious People, Organizations, and Businesses
In the initial stage, the project will support the transition in regions where the EV infrastructure has yet to take root. It is focusing on emerging markets, which contribute 63% of the world’s total carbon emissions now as they aggravate climate change. Along with that, it will launch and support initiatives that tackle global issues like air pollution, CO2-related health hazards, and financial disparity.
eTukTuk has plans to work alongside the local government and influential industry partners on the mission. For example, the Capital Maharaja Group (CMG) has joined forces with eTukTuk to facilitate the growth of the network throughout the country. CMG is one of the largest privately-held conglomerates in Sri Lanka, with more than 44 global partnerships. The strategic alliance will help eTukTuk expand its network and strike local partnerships throughout the region.
eTukTuk has also launched an ambassador program for community members to build awareness around the blockchain project.
TUK fuels the eTukTuk Ecosystem
TUK token fuels eTukTuk’s shared economy. Listed below are the key use cases of the token and how it works:
- Network revenue: Drivers will pay for vehicle recharges in TUK tokens.
- Rewards: Territory Partners and Power Stakers will earn TUK every time a transaction is processed. A Territory Partner manages the charging stations that will power the sustainable charging network.
- Staking: Power Stakers stake their TUK tokens to power the network, and earn rewards as the network grows.
A pie chart showing the allocation of the TUK token (subject to change)
eTukTuk is one of the most promising and market-relevant projects to enter the crypto market this year, which is crowded with play-to-earn, DeFi, and NFT projects. Compared to these, eTukTuk has a high scope for mainstream adoption. If eTukTuk succeeds in joining forces with governments, corporates, and local initiatives, it will be also one of the most successful cryptocurrencies of 2023.
The $TUK token sale whitelist is now live, allowing early investors to take advantage of presale discounts and benefits.
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