Boda bodas, the iconic motorbike taxis of East Africa, are not only a popular mode of transportation but also a vital source of income for millions of Africans. Now, thanks to a partnership between asset financing company Watu and blockchain-powered infrastructure network Nodle, these boda bodas are set to undergo a technological transformation.
Watu, which has provided loans to over one million Africans in seven countries to help finance the purchase of motorcycles for taxi services, will now leverage Nodle’s decentralized physical infrastructure network (DePIN) to enhance vehicle tracking. This collaboration aims to provide real-time location data for the financed motorbikes, protecting owners against theft and giving Watu better visibility of its assets.
The project will launch in Uganda in May 2024 and will subsequently expand to other countries such as Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of the Congo. The Watu asset location solution will be built on the Nodle Network, utilizing users’ smartphones as secure nodes in the decentralized network. Nodle’s DePIN, operating on smartphones, ensures wide coverage and precise tracking due to the ubiquity of smartphones and advanced geolocation capabilities.
Micha Benoliel, the co-founder and CEO of Nodle, believes that the partnership with Watu will significantly accelerate the deployment of the network in Africa, particularly considering the projected rise in smartphone usage. According to Benoliel, smartphones are expected to account for 88% of mobile connections by 2030, up from the current rate of 50%.
Gunars Bidins, the head of GPS tracking at Watu, emphasized the suitability of Nodle’s network for their asset management needs. Meanwhile, Florent Stroppa, Nodle’s chief product officer, highlighted the broader benefits of DePIN in supporting economies and society. Stroppa explained that the crowdsourced network enables the quick and cost-effective deployment of new services.
The use of DePIN technology in sectors such as cloud computing and other real-world applications is rapidly growing within the blockchain industry. This collaboration between Watu and Nodle showcases the potential of DePIN and its ability to bring about positive changes in various industries and sectors.