Cardano unveiled eTukTuk project will begin operation in SriLanka
Cardano Unveils world first Automotive project in Davos.
The world's first automotive project on the Cardano blockchain was expressed at the World Economic Forum in Davos.
The eTukTuk project express that it will begin operations in Sri Lanka with the support of the local government present for the Cardano Foundation CEO Frederick Gregaard and Global head of Marketing David Taylor.
while numerous attempts to convert the tuk-tuk to an electric operation have failed in the past due to a lack of sufficient charging infrastructure, eTukTuk aims to overcome this hurdle by creating a peer-to-peer (P2P) economy using the Cardano blockchain.
eTukTuk aim to address the lack of charging infrastructure and the high cost of e-vehicles in developing countries by building a dynamic multi-faceted revenue model the P2P economy is intended to incentivize the expansion of the highly scalable eTukTuk network of charging station and eTukTuk owned e-vehicles via the Cardano blockchain.
They intended to support the much-needed shift away from fossil fuels in regions where e-vehicle infrastructure is lacking while addressing global issues like air pollution, Co2 related problems.
The start of the TukTuk projects is indicate affordable mobility in developing Asian and African countries they are also responsible for Co2 emissions than cars contributing to global carbon emissions.
eTukTuk is working with the Srilankan government and influential industry partners to ensure that the current 1.2 million internal combustion engine tuk-tuk are gradually replaced by electric-powered tuk-tuks.
According to James Bowater a strategic advisor at TukTuk express that eTukTuk is working with its partners in Sri Lanka to scale operations CEO Ryan Fishoff said "we are creating a uniquely innovative, affordable, and accessible platform for drivers who currently are excluded from making the transition to EVs."
Rosy Senanayake said, That 70% of all tuk-tuks in the country are on the roads in Colombo the capital of Sri Lanka.
eTukTuk solution maker EVs affordable and accessible, Colombo is fortunate to be the first city to have the answer to the growing transportation crisis which we all have right now face especially considering that there are currently no other nations across the globe taking these kinds of strides.
Srilankan government has passed a law that requires 100% of all government vehicles passenger cars and two and three-wheeler vehicles to be replaced with electric vehicles by the end of 2040.
The eTukTuk team's vision is to create a P2P ecosystem with which it can fix the aging transportation infrastructure and create new equitable earning opportunities for drivers, the Cardanocahin is expected to play a central role in driving sustainable change in transportation solutions and combating financial exclusion.
eTukTuk drivers and customers will be able to sue the Cardano blockchain for transactions to pay for services.
The Cardanochain is allow drivers and customers in the network to earn rewards and also allow them to benefit from the increasing use and expansion of the eTukTuk charging infrastructure the project expects that the amount of income earned by drivers could increase by the 400%