Boda bodas, the ubiquitous motorcycle taxis integral to urban life in East African cities like Nairobi, Kampala, and Dar es Salaam, are on the brink of a technological revolution. Asset finance firm Watu has joined forces with Nodle to leverage blockchain technology for real-time tracking of their financed vehicles.
Partnership Goals and Benefits
Watu, having extended loans to over a million Africans across seven countries, views this collaboration as an opportunity to bolster vehicle owner safety in theft scenarios and improve asset visibility. Nodle’s decentralized physical infrastructure network (DePIN), utilizing a network of smartphones as nodes, will enable this advancement.
Project Rollout and Expansion
Commencing in May 2024 in Uganda, the project will gradually expand to Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of Congo. Leveraging smartphones’ widespread presence and advanced geolocation capabilities, the Nodle Network ensures broad coverage and precise tracking.
Enabling Network Growth in Africa
Micha Benoliel, Nodle’s co-founder and CEO, anticipates a substantial network expansion in Africa through this partnership, particularly with smartphones projected to constitute 88% of mobile connections by 2030. Florent Stroppa, Nodle’s Chief Product Officer, highlights the network’s crowd-sourced nature, facilitating swift and cost-effective deployment of new services, ideal for tracking hard-to-locate assets.
Enhanced Asset Tracking Efficiency
Gunars Bidins, Watu’s head of GPS tracking, underscores the benefits of this technological leap. He asserts that the collaboration enhances asset fleet tracking efficiency and cost-effectiveness, thereby augmenting safety and security in Watu’s expanding African operations.
Future Prospects of DePIN Technology
With DePINs gaining traction in the blockchain realm, their utility extends beyond asset tracking. They’re being utilized to acquire cloud computing resources and explore other innovative applications, promising a bright future for the integration of digital and physical infrastructure.
Conclusion: Paving the Way for Safer Rides
The partnership between Watu and Nodle signifies a significant stride in enhancing safety and asset management in the Boda boda industry. As blockchain technology continues to permeate various sectors, its application in real-time tracking showcases its potential to revolutionize transportation systems, ensuring safer rides and efficient asset management.