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.
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. A leading cause of climate change and global warming is the massive amount of CO2 emitted by vehicles. 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. Some nations are known for their steep fuel hikes that can go 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 across the world.
eTukTuk is a revolutionary new blockchain project that aims to nurture a green public transportation system in developing economies.
eTukTuk EV is a feasible and reliable alternative to traditional carbon-intensive TukTuks, designed to effortlessly fit into the developing world. 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 that are built to be accessible, compact, and future-proof. For this, eTukTuk will join forces with Territory Partners who manage the charging stations that will power the sustainable charging network in exchange for attractive rewards.
- The network empowers business owners to make sustainable choices for their future as well as their consumers.
- Investors who join the ecosystem in the early stages make up an integral part of the ecosystem. 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 as well. 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. All rewards in the eTukTuk ecosystem are distributed in TUK token, the native cryptocurrency of the platform.
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, which contribute 63% of the world’s total carbon emissions. The blockchain-based EV ecosystem plans to enter Sri Lanka later this year in 2023 by installing a network of advanced charging stations and eTukTuk electric vehicles. There are 1,200,000 traditional internal combustion engine (ICE) TukTuks in Sri Lanka now. 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 the EVs on the roads, establishing charging infrastructure, and boosting the earning potential of drivers and ecosystem supporters in the community.
Flow of rewards
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.
📢📢 Announcement 📢📢— TUK Token (@TukToken) June 19, 2023
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
The project has also deployed an ambassador program to build awareness around the importance of sustainable transportation. All of 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 gives the community the opportunity to make early investments in the project with attractive presale discounts and benefits.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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