SkyWay

SkyWay Group is a self-proclaimed investment group based in Minsk, Belarus. In 2018, financial regulators in Germany, Lithuania, and five other countries warned that SkyWay "is not registered as a financial services provider and therefore, is not allowed to provide such services in their country," or warned the public about potential fraud the company was perpetrating. Railway system The SkyWay Group introduced investment opportunities for technology they referred to as "string transport," which they claimed driverless, elevated railcars would be "strings" traveling on prestressed tensioned steel wires placed in a concrete-filled body. The technology was marketed as a new type of elevated light rail transportation system where small transport units of up to 50,000 passengers per hour. But in 2017, government officials raised doubts about the company's ability to actually execute construction of the system and was warning investors about potential untruths. Their claims that the rail vehicles can reach speeds of up to 500 kilometers an hour, and that costs would be 20 percent less than normal rail-based subways, were never substantiated. SkyWay also claimed that this technology produces minimal gas and particle emissions, which was never proven. The transport technology was being tested at the SkyWay EcoTechnoPark, located in Belarus, and at the SkyWay Innovation Centre, located in the United Arab Emirates.