EV tokens are largely unheard of in the crypto market.

Interestingly, the flood of DeFi, play-to-earn, and meme tokens has reduced the capabilities of Web3 to pure speculation and entertainment.

But the underlying blockchain technology that underpins the crypto market is designed to revolutionize data and financial transactions across different industries.

Blockchain deserves more recognition

The transparency and accountability introduced by the decentralized ledger system is ideal for large-scale projects that require global coordination.

eTukTuk is a new crypto project that aims to revolutionize the transportation sector in developing economies. Since a broad approach has failed to bring results in the EV market, eTukTuk has narrowed down its focus to the public sector in developing economies.

At the heart of the ecosystem are eTukTuk electric vehicles that have completed an intensive five years research and development phase. The project takes into account the poor EV infrastructure support in the countries it targets.

To facilitate the smooth adoption of its high-end electric three-wheeler taxis, it also introduces a network of charging stations and a peer-to-peer payment system.

The project uses blockchain as one of its key technological tools to bring its vision alive. The native cryptocurrency $TUK, in particular, plays a role in the democratic execution of the project.

Being a decentralized project with a market relevant use case, eTukTuk opens investment opportunities. Blockchain tokenization integrated into the project allows retail investors to profit from its growth and expansion in developing economies.

Listed below is a brief analysis of why $TUK tokens could surge 10X on their release.

eTukTuk is an EV for developing economies

Do we need to design specific EVs for developing economies?

As a matter of fact, we do. A one-size-fits-all approach is too ambitious when it comes to a global problem like climate action. That is not to say that electric vehicles have no relevance in climate action in developing economies. Like in any other place of the world, fossil-fuel vehicles pose dangers to the air quality of developing economies.

The consequences of carbon emitted into the environment are more obvious here, as most of these countries are overpopulated. Moreover, they can’t afford measures to mitigate carbon emissions or their repercussions.

Blockchain technology’s potential to underpin the infrastructure for payment, charging, and vehicle sharing could revolutionise sustainable transportation. 🛺

Amidst the challenges of infrastructure development in the developing world, blockchain technology provides a glimmer… pic.twitter.com/NYoeUbHzD4

— eTukTuk (@eTukTukio) November 27, 2023

EVs can put a huge dent in carbon emissions from vehicles. The only problem is, they are not cheap. They are costlier than their fossil-fuel counterparts. With a hundred other things (financial, in particular) to worry about, users are less inclined to choose sustainable transportation modes in developing economies. They are more likely to go for the cheaper option.

The key lies in providing cheap alternatives to traditional fossil-fuel vehicles. But we need to also factor in that people in developing economies don’t consider private vehicles a necessity. Again, it’s due to the capital requirement.

Instead, they rely on public transportation modes. A favourite is TukTuk taxis, which offers the comfort of a private vehicle without the initial capital requirement.

So eTukTuk’s business model and niche make perfect sense.

Locally manufactured electric vehicles

As mentioned above, eTukTuk is entering the market after an intense five-year of development. That gives the project the resilience to make itself seen in the EV market as well as the crypto market.

For example, eTukTuk vehicles can be manufactured using less than 200 components locally. That drastically reduces the cost of development and initial investment requirement for drivers.

Being run on electricity, eTukTuks need lower operational cost than traditional TukTuks. The maintenance cost is also substantially lower. In addition, it features a roll-cage design, AI-powered guideline systems, and LFP batteries, to name a few, that give drivers more reasons than just energy and cost efficiency to choose eTukTuks.

It doesn’t stop there. Instead, it introduces a blockchain ecosystem for charging and payment to support drivers.

The eTukTuk network of charging and payment

eTukTuk follows a peer-to-peer payment and charging system. The charging systems are installed and run by Territory Partners in each location. The payment network, on the other hand, is secured by Power Stakers. Power Staking allows users from around the world to become a part of the project.

All participants of the system are rewarded in the native $TUK tokens.

More on the way

eTukTuk will begin its journey in Sri Lanka and expand its operations across the world over time.

Since the potential investor base of the project is not confined to Sri Lanka or other developing economies, measures are being implemented to build awareness of its mission worldwide. For example, a play-to-earn game that takes inspiration from Crazy Taxi is currently in development.

The best investment gateway to eTukTuk is the $TUK presale that is currently live. It is compatible with crypto and credit card purchases. Early investors can start staking $TUK right away.

On its release, the token has the potential to jump 1000% to 2000% immediately, depending on the broader market trend.

VISIT TUK TOKEN PRESALE

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• Source: https://insidebitcoins.com/news/why-this-new-ev-token-could-explode-10x-on-its-release