Watu, an asset financing company operating in Africa, has initiated a strategic alliance with Nodle, a global leader in blockchain innovation, to develop pioneering Internet of Things (IoT) services. These services will harness Nodle’s Decentralized Physical Infrastructure Network (DePIN). Initially, Nodle will utilize its DePIN, comprising hundreds of thousands of smartphones, to enhance the asset tracking capabilities of Watu’s fleet of two and three-wheeler motorbikes, commonly known as boda bodas in East Africa.
Efficient and Cost-Effective IoT Solutions
The Nodle DePIN offers energy efficiency, security, and cost-effectiveness. It eliminates the need for investment in expensive telecommunications hardware, providing broader coverage and more precise location tracking compared to other IoT solutions. This superiority stems from the widespread usage of smartphones and their geolocation features.
Watu serves as a bridge, facilitating access to flexible financing for entrepreneurs, thereby aiding in their socio-economic advancement. Boda bodas not only serve as crucial last-mile transportation but also significantly contribute to employment generation and economic empowerment.
Real-Time Asset Tracking and Business Support
The strategic collaboration between Watu and Nodle commences with an initiative aimed at furnishing real-time location data for Watu’s financed boda bodas. This initiative enhances asset security, safeguarding owners against theft, and reinforces Watu’s business model, which extends loans to the unbanked and individuals with limited access to conventional credit facilities.
The partnership’s rollout begins in Uganda, with plans for expansion into Kenya, Tanzania, Nigeria, Sierra Leone, DR Congo, and other regions. Through this alliance, Watu stands to harness Nodle’s expertise in cryptography, mobility, device authentication, and blockchain, while Nodle can capitalize on Watu’s proficiency to deliver scalable services across Africa and other emerging markets.
Enabling Entrepreneurial Empowerment
Micha Benoliel, CEO and co-founder of Nodle, expressed enthusiasm about supporting Watu’s mission to empower entrepreneurs through asset financing. He highlighted the increasing demand for the Nodle app in emerging markets, citing the growing utilization of smartphones. This partnership is poised to accelerate the deployment of the Nodle Network in Africa, where smartphones are projected to dominate mobile connections by 2030.
Gunars Bidins, Head of GPS Tracking at Watu, echoed excitement about the collaboration with Nodle. He emphasized the efficiency and cost-effectiveness of tracking Watu’s asset fleet, ensuring their safety across the expanding African operations. Bidins emphasized the scalability and adaptability of the Nodle network, asserting its suitability for Watu’s requirements and the potential to revolutionize asset tracking in Africa.
Driving Innovation and Transformative Solutions
The Watu-Nodle partnership signifies a milestone in leveraging smartphones as infrastructure to deliver innovative IoT solutions. It is anticipated to inspire further innovation within Watu and encourage additional partners to utilize the Nodle network for creating solutions that transcend traditional network infrastructure, benefiting individuals and businesses across Africa’s evolving landscape.
The Nodle network blockchain already finds application globally in various domains, including authenticating digital content to combat misinformation, monitoring high-value assets like shipping pallets, tracking corporate vehicle fleets, and locating stolen assets for insurance providers.