The rEVolution is Coming! eTukTuk’s New Global Blockchain Ecosystem is Launching in Sri Lanka, it was announced.
Launching in Sri Lanka
The team at eTukTuk is thrilled to announce to the world that we are beginning our journey in Sri Lanka, in the capital city of Colombo; where 5.6 million people are living, and 70% of Sri Lanka’s 1,200,000 registered internal combustion engine (ICE) TukTuks exist.
With a goal to rEVolutionise (Easter Egg Phrase) transportation as we know it, the global team at eTukTuk are setting out to expand a network of efficient charging stations and eTukTuk proprietary EVs into the country, so that drivers can make the switch away from highly inefficient, expensive, and carbon-intensive TukTuks.
One of the most dominant modes of transport throughout the developing world, ICE TukTuks emit more CO2 than a passenger car! This is simply unacceptable, and quite frankly, unsustainable.
There have been many attempts to launch two- and three-wheeler electric vehicles (EVs) at scale around the globe, but the lack of charging infrastructure to power the switch is a dominant and continuous barrier, preventing the disposal of outdated transportation.
Recharging a TukTuk with electricity would be a considerable discount on the cost of the rising price of fossil fuels (which has risen by as much as 50% in some regions!). However, the high purchase cost of EVs significantly prohibits drivers on low- to middle-incomes from affording the transition. And, because of this, drivers are stuck fuelling their vehicles (when they can afford to) with expensive and toxic fossil fuels.
Why Sri Lanka?
There is simply no widely accessible charging infrastructure available in the country, today. Government policies dictate that 100% of all state-owned vehicles, passenger cars, and two- and three-wheelers must be replaced with EVs by 2040, but without the right network in place, this is impossible. That’s why eTukTuk’s charging stations, placed frequently in the most-needed spots around the city, will allow drivers to make the switch sooner, rather than later.
Sri Lanka is a vibrant country, however, right now, its air quality is heading into dangerous territory. According to the World Health Organisation (WHO), “good air quality” is balanced between 0-50. However, in December 2022, Sri Lanka’s air quality reportedly spiked to 249. Largely dependent on wind direction, as well as a number of other factors, Sri Lanka’s AQI can vary significantly. Right now, the “PM2.5 concentration in Colombo is currently 4.1 times [higher than] the WHO annual air quality guideline value,” (IQ Air, 2023).
ICE two-and three-wheeler vehicles (like motorcycles and TukTuks) are responsible for 46% of all gasoline consumption within the country (USAID) – so a switch to a more sustainable alternative would drastically reduce the CO2 released into the atmosphere.
Blockchain will be the catalyst. The country is predominantly “cash-heavy”. 85% of all consumer payments are cash transactions, which only adds friction to the payment for goods and services throughout all sectors. It also reduces opportunities in almost all aspects of life. The transition to digital identities would mean that everyone could live in a more connected, yet decentralised economy, which is why pioneering blockchain technology in Colombo would completely modernise it; helping to shape the smart city of the future.
Whilst fuel prices are rising drastically across the globe, the sting is being felt most keenly in places like Colombo, where drivers are spending what they can to refuel their vehicles so they can take on more passengers to earn a wage. With eTukTuk, drivers could earn up to 400% more, as the cost of owning and operating one of our vehicles is a drastic reduction when compared to an ICE TukTuk.
Colombo’s Mayor, Her Worship Rosy Senanayake had this to say about eTukTuk’s platform;
“eTukTuk’s solution has the ability to drive economic change throughout Colombo and indeed, Sri Lanka. The current TukTuk drivers are in need of the affordable and sustainable solution that eTukTuk provides; one that places their take-home pay, safety, and the environment at the forefront of their plans. 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.”
Working alongside the local government, and with influential industry partners already in place, eTukTuk will use blockchain technology to expand its network of charging stations and EVs to help solve these issues and more. With a strong and sustainable ecosystem for the future, eTukTuk hopes to completely rEVolutionise transportation, not only in Sri Lanka, but in many countries around the globe, so that everyone, everywhere has access to an affordable and accessible model of transportation that will keep the planet moving.
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