eTukTuk’ – Powering the Future of Transportation – Sets an Example for Blockchain Mainstream Adoption

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The crypto market has to venture beyond DeFi, NFT, and play-to-earn products to build a positive narrative around its market relevance and enter the mainstream. eTukTuk, one of the first automotive projects on the BNB Chain, is the most recent example in this direction. 

In this article, we take a closer look at eTukTuk and how it harnesses blockchain technology to bring more sustainability and efficiency to public transportation. 

Sustainable transportation for everyone

The rapid advancement of our living standards has led to the deterioration of the environment and subsequent climate change. It is getting worse by the day, thanks to the growing population and our reckless activities. Vehicles emit a massive amount of CO2, which is a leading cause of climate change and global warming. It is also one of the key areas where we can make a tangible difference. 

However, it is easier said than done. 

While developed countries are embracing green alternatives to slow down climate change, developing nations can’t afford to make this shift. To begin with, most people can’t afford electric vehicles. Electric vehicles (EVs) come with a heavy price tag, although they have lower operational costs. 

Carbon-intensive vehicles, on the other hand, have a lower initial cost. But they become quite expensive in the long run. Frequent fuel price hikes in unstable governments and economies, in particular, make driving an expensive adventure. Fuel prices in some nations can increase by up to 50% within short intervals.

Even if certain sections of the demographics can afford green transportation, these countries don’t have the infrastructure to support the growing number of EVs on the road. This shortage hinders the gradual phase-out of carbon-intensive vehicles. 

To give you a better perspective, there are approximately 270 million ICE (Internal Combustion Engine) TukTuks in operation globally. It is projected to hit 400 million by 2050, underscoring the scale of the challenge ahead of us. Carbon emissions from vehicles are not just a problem for developing nations, as billions face the consequences of toxic air pollution worldwide. 

It is a revolutionary new blockchain project that aims to nurture a green public transportation system in developing economies. 

eTukTuk sets new standards in electric vehicle production

eTukTuk EV is a feasible and reliable alternative to traditional carbon-intensive TukTuks, designed to fit into the developing world effortlessly. Each eTukTuk EV prioritizes safety and sustainability. They feature a patented roll cage design and are manufactured locally. 

An overview of the eTukTuk network

But the eTukTuk network is not limited to EVs. There is more going on:

• The backbone of the eTukTuk network is the EV Charging Stations built to be accessible, compact, and future-proof. For this, eTukTuk will join forces with Territory Partners, who manage the charging stations to power the sustainable charging network in exchange for attractive rewards. 
• The network empowers business owners to make sustainable choices for their future and consumers.
• Investors who join the ecosystem in the early stages are integral. It opens up a world of possibilities for them as the network grows. For example, TUK holders can stake their tokens and power the network to earn rewards. The reward potential grows with the network. 

eTukTuk doesn’t just allow you to make a positive impact on the environment and the health of people globally but also supports communities that are on the economic and social peripheries. The eTukTuk ecosystem distributes all rewards in TUK tokens, which is the native cryptocurrency of the platform.

This is how it works

Here is a simplified explanation of how the eTukTuk network functions:

• Drivers will pay to recharge their vehicles in TUK tokens. That is the primary network revenue.
• Territory Partners and Power Stakers earn rewards in TUK tokens every time a transaction is processed. The TUK staking system is backed by the underlying security and autonomy of the BNB Chain.
• eTukTuk will begin its journey in emerging markets, contributing 63% of the world’s total carbon emissions. The blockchain-based EV ecosystem plans to enter Sri Lanka in 2023 by installing a network of advanced charging stations and eTukTuk electric vehicles later this year. Sri Lanka has 1,200,000 traditional internal combustion engine (ICE) TukTuks. 70% of these are in Colombo.
• eTukTuks will slash the operational expenditure and maintenance of TukTuks by a significant margin, allowing drivers to earn up to 400% more pay.  
• It will scale the network in a particular region first and gradually cut the ties that bind it to expensive fossil fuels.
• It will expand the eTukTuk network to other regions by introducing EVs on the roads, establishing charging infrastructure, and boosting the earning potential of drivers and ecosystem supporters in the community.

Flow of rewards

The road ahead for eTukTuk

One of the key elements of eTukTuk’s growth and expansion strategy is partnerships. The project will work with local governments and influential industry partners to bring eTukTuk EVs to the road. As part of introducing eTukTuk to Sri Lanka, it has joined forces with the Capital Maharaja Group (CMG), a large privately-held conglomerate in Sri Lanka that boasts more than 44 global partnerships. 

The project has also deployed an ambassador program to build awareness around the importance of sustainable transportation. These factors make eTukTuk one of the most promising and market-relevant projects to enter the crypto market this year. The $TUK token sale whitelist is filling up fast as a result. It allows the community to make early investments in the project with attractive presale discounts and benefits.