The Capital Maharaja Group (CMG) has partnered with eTukTuk, the world’s first automotive project on the Cardano blockchain, to introduce sustainable transport powered by blockchain in Sri Lanka. The deal will see the seamless integration of a unique transportation network, with first steps taken in the capital, Colombo. CMG is Sri Lanka’s number one privately held conglomerate, with more than 44 global partnerships spanning various industries, including chemicals, ICT, media, entertainment, communication, personal care and consumer products, plastics, infrastructure projects, shipping and logistics, and Ceylon tea.
Through blockchain, eTukTuk will onboard billions of digital identities as part of the network, enabling drivers to diversify their income and earning opportunities. The pairing with CMG will expand the network and facilitate growth throughout Sri Lanka from 2023. eTukTuk recently launched its ambassador program for community members to build awareness around the blockchain project.
Group director on the main board at CMG, Niro Cooke, said the company was attracted to the partnership due to eTukTuk’s holistic solution, a sustainable e-mobility ecosystem that offers a tokenised payment solution spanning ride-hailing fares and recharging payments. He added that Sri Lanka was an ideal test market for a solution of this nature, which was the first step in creating a robust e-mobility solution that would transform the rest of the developing world. George Cox, CMO for eTukTuk, said forging a strong partnership with CMG would enable the company to alter transportation systems around the world.
