Blockchain technology is poised to revolutionize the boda boda industry in East Africa, particularly in vibrant cities such as Nairobi, Kampala, and Dar es Salaam. Boda bodas, or motorbike taxis, deeply ingrain themselves in the region’s daily life, serving as a crucial transportation option for millions and representing a significant income source for many.

Thanks to innovative advancements, this transformation is on the horizon. One notable development involves integrating blockchain technology by asset financing company Watu. Soon, boda boda vehicles will equip with real-time tracking capabilities through blockchain. This innovation promises to enhance efficiency and transparency within the industry, benefiting riders and passengers alike.

Watu and Nodle collaborate on blockchain motorbike security

Watu recently announced a collaboration with Nodle, a company specializing in blockchain-powered decentralized physical infrastructure networks (DePIN), to improve the tracking of motorbikes it has financed.

This partnership is part of Watu’s efforts to leverage technology to enhance vehicle tracking and security. Through this initiative, Nodle’s DePIN infrastructure will enable real-time location tracking of the financed vehicles. This technology aims to safeguard owners against theft while also providing Watu with improved visibility and control over its financed assets.

Watu is renowned for extending loans to over one million individuals across seven African countries. Primarily, these loans are for purchasing motorcycles for taxi services. The collaboration represents a significant step forward for Watu. It ensures the safety and security of both its clients and their assets.

Nodle’s expansion across Africa begins in Uganda

The blockchain initiative will kick off in Uganda in May 2024. Plans are in place to extend it to Kenya, Tanzania, Nigeria, Sierra Leone, and the Democratic Republic of the Congo in the following months.

The Watu asset location system will develop on the Nodle Network. It is a decentralized mobile network where users’ smartphones serve as secure nodes.

Nodle’s DePIN operates on smartphones and is praised for its broad coverage and accurate tracking. It leverages the widespread use of smartphones and advanced geolocation capabilities.

Nodle’s CEO, Micha Benoliel, highlighted the partnership with Watu as a significant step in expanding the African crypto and blockchain network. He noted the projected increase in smartphone-based mobile connections to 88% by 2030, up from the current 50%.

Gunars Bidins, Watu’s head of GPS tracking, stressed the suitability of Nodle’s network for their asset management requirements. It ensures efficient and cost-effective tracking across their operations in Africa.

Florent Stroppa, Nodle’s chief product officer, emphasized the benefits of DePIN demonstrated through the collaboration with Watu. It enables swift and cost-effective deployment of new services. Stroppa particularly highlighted the technology’s effectiveness in tracking assets that are typically challenging to locate. He expressed enthusiasm for the partnership with Watu.