Watu and Nodle Partner to Boost Blockchain Tracking of East African Motorbike Taxis
Summary:
Asset financing company Watu is partnering with blockchain-based network Nodle to track motorbike taxis, known as boda bodas, in East Africa. This innovation will provide real-time tracking for financed motorbikes, protecting owners from theft and give Watu better visibility of assets. The project is set to kick off in Uganda in May 2024, and extend to Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of Congo. The asset location solution will operate on the Nodle Network, which provides extensive coverage, precise tracking, while utilizing users’ smartphones as nodes.
In the bustling urban environments of East Africa, like Nairobi, Kampala and Dar es Salaam, motorbike taxis, or boda bodas, are a way of life. The main mode of transportation for millions of Africans, they also serve as a crucial source of income. A fresh wave of innovation is set to hit the sector as asset financing company Watu integrates blockchain technology for real-time vehicle tracking. Watu recently announced its partnership with Nodle, a blockchain-enabled decentralized physical infrastructure network (DePIN) that will improve the tracking of motorbikes that Watu has financed.
Watu has granted loans to over a million Africans across seven countries to purchase motorcycles and establish taxi services, thus providing a lifeline of income. Utilizing the DePIN infrastructure developed by Nodle, the location data of these vehicles will be readily available. This feature will guard owners against theft and enable Watu to more effectively monitor the assets it has financed.
The initiative will kick off in Uganda in May 2024 and progressively expand into Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of the Congo over the upcoming months. The asset location solution from Watu will operate on the Nodle Network, a secure, decentralized mobile network, which uses users’ smartphones as nodes. Nodle’s DePIN provides extensive coverage, precise tracking, and runs on smartphones thanks to sophisticated geolocation abilities.
According to Micha Benoliel, Nodle’s co-founder and CEO, the collaboration with Watu will significantly expedite the network’s deployment in Africa. He shared that by 2030, smartphones would represent 88% of mobile connections, a significant rise from the current 50%.
The head of GPS tracking at Watu, Gunars Bidins, praised Nodle’s network as perfectly suited to their asset management needs and explained, “This partnership enables us to monitor our asset fleet more effectively and affordably, ensuring the safety and security of our assets throughout our growing African operations.”
Florent Stroppa, Nodle’s chief product officer, is of the belief that the project with Watu highlights DePIN’s advantages to economies and society at large. The technology facilitates the rapid, cost-effective deployment of new services. Further, DePIN technology is a burgeoning aspect of the blockchain industry, currently being utilized to gather cloud computing resources for projects like io.net and a variety of other practical applications that were recently discussed on the Decentralize podcast by Cointelegraph.
Published At
5/1/2024 1:00:00 PM
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