Boda bodas are an integral part of life in East Africa, particularly in bustling cities like Nairobi, Kampala, and Dar es Salaam. These motorbike taxis provide the most efficient way to navigate through the busy streets and reach your desired destination.
For millions of Africans, boda bodas are not only a primary mode of transportation but also a crucial source of income. Now, the industry is about to undergo a wave of innovation with the introduction of blockchain technology. Asset financing company Watu has partnered with Nodle, a blockchain-powered decentralized physical infrastructure network (DePIN), to revolutionize vehicle tracking for the motorbikes they finance.
Watu has provided loans to over one million individuals in seven African countries, enabling them to purchase motorcycles and offer taxi services. With Nodle’s DePIN infrastructure, real-time location data for these vehicles will be available. This technology aims to protect owners in case of theft and provide Watu with better visibility of their financed assets.
The project will begin in Uganda in May 2024 and will later expand to Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of the Congo. The Watu asset location solution will be built on the Nodle Network, a decentralized mobile network where users’ smartphones act as secure nodes in the DePIN.
Nodle’s DePIN operates on smartphones, leveraging their advanced geolocation capabilities to provide wide coverage and precise tracking. Micha Benoliel, the co-founder and CEO of Nodle, believes that partnering with Watu will greatly accelerate the deployment of the network in Africa. He predicts that smartphones will account for 88% of mobile connections by 2030, a significant increase from the current rate of 50%.
Gunars Bidins, the head of GPS tracking at Watu, expressed confidence in Nodle’s network, stating that it perfectly suits their asset management needs. Florent Stroppa, Nodle’s chief product officer, sees the partnership with Watu as a demonstration of DePIN’s benefits to economies and society. He believes that the crowdsourced network will enable the quick and cost-effective deployment of new services.
The use of DePINs is a rapidly growing trend in the blockchain industry. It has been utilized in various real-world applications, such as sourcing cloud computing resources through projects like io.net. The potential of DePINs is further explored in the latest podcast episode of “Decentralize with Cointelegraph,” where several other use cases are discussed.
In conclusion, the partnership between Watu and Nodle is set to bring significant advancements to the boda boda industry in East Africa. With blockchain-powered vehicle tracking, these motorbike taxis will become even more secure and efficient, benefiting both the owners and the financing company. The deployment of Nodle’s network in Africa will be accelerated, thanks to Watu’s collaboration. This innovative use of blockchain technology showcases the potential for DePINs to revolutionize economies and societies worldwide.