eTukTuk, a project developing battery operated three-wheeler vehicles, collaborated with Cardano blockchain to launch the world’s first automotive project built on a blockchain ecosystem.
The E-vehicle project eTukTuk will allow the drivers, passengers and other participants within the network to earn rewards. They will also benefit from expansion and usage of eTukTuk charging infrastructure.
The main aim behind the development of eTukTuk’s electric powered vehicles, two and three-wheeled vehicles, is to support countries on a global level to adopt clean and sustainable transport models.
The Electric vehicle startup company is also aiming to expand its charging stations globally as electric vehicles are seen as one of the leading initiatives in the fight against climate change and will ultimately help the country’s economy.
According to eTukTuk, there are more than 270,000K TukTuk vehicles on public roads which emit more CO2 in comparison to passenger cars.
eTukTuk is working in collaboration with the Government of Sri Lanka and influential industry partners to ensure that the existing 1.2 million internal combustion engines tuk-tuks are gradually replaced by environment friendly electric three-wheelers.
eTuk-Tuk’s strategic advisors said that the company is closely working with partners in Sri Lanka to scale its operation. Ryan Fishoff, the Chief Executive Officer of eTuk-Tuk said the customer base included those who could not afford to switch to electric vehicles.
“We are creating a uniquely innovative, affordable, and accessible platform for drivers who, right now, are excluded from making the transition to EVs.”
Rosy Senanayake Mayor of Colombo the capital of Sri Lanka said “Since eTukTuk’s solution makes EVs affordable and accessible, Colombo is fortunate to be the first city to have the answer to the growing transportation crisis which we all currently face; especially considering that there are currently no other nations across the globe taking these kinds of strides.”
Sri Lanka passed a bill to replace 100% of all government vehicles, passenger cars, two-wheelers and three-wheeler vehicles to be replaced with e-vehicles by the end of 2040.
Data from CoinMarketCap states that ADA, the native token of Cardano fell by 73.41% compared to the trading price a year ago.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/01/21/cardano-announces-collaboration-with-automotive-project-at-world-economic-forum/