As a crypto investor with a background in East Africa, I’m excited about the potential of this partnership between Watu and Nodle. The ability to provide real-time tracking for motorbikes financed by Watu using blockchain technology is a game-changer for the boda boda sector.
In the vibrant urban centers of East Africa such as Nairobi, Kampala, and Dar es Salaam, boda bodas, which are akin to Motorbike taxis, hold significant importance and represent an integral part of daily life. They offer an effective means of navigating through the congested streets and reaching your destination efficiently.
Millions of Africans rely heavily on boda bodas for transportation and earning a living. The industry is poised for modernization, with blockchain technology introducing real-time monitoring of vehicles funded by asset financing firm Watu.
In a recent update on CryptoMoon, Watu revealed a fresh collaboration with Nodle’s decentralized physical infrastructure network based on blockchain technology (DePIN). Through this partnership, Watu aims to improve the monitoring of motorbikes that it has financially supported.
One million Africans in seven different countries have received loans from Watu, enabling them to buy motorcycles and subsequently provide taxi services.
As a researcher studying Noodle’s DePIN infrastructure, I can explain that this technology enables us to provide real-time location data for vehicles. This feature is designed primarily to safeguard vehicle owners against theft and secondly, to grant Watu superior insight into the assets they have funded.
Starting in May 2024, the project is set to begin in Uganda. In the following months, it will then extend its reach to include Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of the Congo.
The Watu asset location system is designed to operate on Nodle Network, a decentralized mobile platform where participants’ smartphones function as vital nodes within a robust and secure Proof of Stake Delegated Proof of Work (PoS-DPoW) consensus mechanism.
As a crypto investor, I’m excited about Nodle’s DePIN technology. This innovation sets itself apart by operating seamlessly on smartphones. Given the vast number of smartphone users worldwide, it promises extensive coverage. Moreover, its advanced geolocation capabilities ensure precise tracking, making it an intriguing investment opportunity for me.
As a analyst, I’d rephrase Micha Benoliel’s statements as follows: I, Micha Benoliel, co-founder and CEO of Nodle, am thrilled to announce our new partnership with Watu. This collaboration is expected to markedly expand the reach of our network in Africa. Furthermore, according to industry projections, smartphones will dominate mobile connections by 2030, representing an approximate 88% market share – a notable increase from the current 50%.
According to Gunars Bidins, the head of Watu, Nodle’s network is perfectly aligned with Watu’s requirements for managing their assets.
“This collaboration allows us to track our asset fleet more efficiently and cost-effectively, ensuring the safety and security of our assets across our expanding African operations.”
The chief product officer of Nodle, Florent Stroppa, is convinced that the application of DePIN showcased through Watu highlights its advantages for economies and society. According to him, this decentralized network will enable new services to be launched efficiently and affordably.
“In this particular instance, the technology is used to track assets that are usually difficult to locate. We are really excited to work with Watu in this deployment.”
The Decentralized Prediction Market Infrastructure (DePINS) segment is rapidly expanding within the realm of blockchain technology. This innovation is finding application in various fields, such as cloud computing resource acquisition through initiatives like io.net, and beyond, as discussed in detail in the most recent episode of “Decentralize with CryptoMoon” podcast.
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2024-05-01 13:03