This week, layer-1 blockchain for DePIN and Machine RWAs, peaq, announced the expansion of its ecosystem as part of a new partnership with Pickspot. The collaboration will see Pickspot leverage peaq’s blockchain as its layer-1 backbone, tap peaq IDs for identity management, and mint its token on peaq.
Africa’s Challenging eCommerce Conundrum
Africa has one of the fastest-growing economies globally, with its eCommerce sector projected to reach over $46 billion by 2025. As economic activity picks up in pace, the need for seamless logistics solutions has never been greater.
In addition, improved services are required for continued growth of Africa’s last-mile delivery market, which is expected to reach nearly $3 billion by 2032. Although the projections are positive, limited infrastructure remains a challenge.
Pickspot’s Smart Parcel Lockers And Logistics Solutions Explained
Pickspot’s primary goals are to address these key challenges by fostering a network of community-owned smart parcel lockers. The lockers are part of a larger logistics ecosystem, designed to improve last-mile delivery wherever there is demand.
Smart parcel lockers can be set up in any high traffic location and minted as an NFT, allowing Pickspot agents to begin earning crypto rewards and 50% of any fees the machine collects. The local community can utilize the locker to send and receive parcels, lowering the rate of unsuccessful delivery attempts.
Not only will this expand the reach of local businesses and bolster eCommerce success rates, but Pickspot lockers also support P2P parcel exchanges to cater to Aftrica’s many informal trade networks.
Why peaq Was Chosen As The Layer-1 Blockchain For Pickspot
Pickspot has chosen peaq, the leading layer-1 blockchain for DePIN and Machine RWAs, to power its backend, mint tokens, and deploy smart contracts. peaq ID will be used as the identity management system, and later, peaq access will power role-based network controls.
Pickspot will also utilize peaq to build its dApp for onboarding new lockers and agents, as well as creating smart contracts for linkint lockbox NFTs. peaq will also be tapped for Pickspot’s reward mechanism and token minting.
Currently, the peaq ecosystem boasts more than 45 applications across 20 industries, and services over a million machine RWAs consisting of devices, vehicles, robots, and more.
Pickspot And peaq Speak Out
“The DePIN model puts the community at the heart of the logistics industry, making sure that the supporting infrastructure comes online wherever it is needed,” says Knaan Warsame, co-founder and CEO of Pickspot.
“This is the perfect basis for building efficient systems evolving in line with the local growth and demand. Pickspot embodies this model, empowering local residents and businesses to connect on a community-run Web3 network, and peaq, with its flexible Modular DePIN Functions and a vast and flourishing ecosystem, is the perfect home for this project,” Warsame continued.
“Logistics is a crucial backbone for growth and economic development, the ultimate enabler of business processes,” says Leonard Dorlöchter, co-founder of peaq. “peaq is the same for DePINs — a trusted and versatile backbone where they can build and grow at the speed of lightning. We’re excited to see Pickspot leverage peaq for its DepIN creating tangible value and opportunities for real-world communities and look forward to its growth,” Dorlöchter added.
Conclusion
Pickspot’s integration of peaq as its layer-1 blockchain represents a significant step forward in solving Africa’s last-mile delivery challenges. By leveraging peaq’s blockchain technology and decentralized infrastructure, Pickspot’s smart parcel lockers have the potential to revolutionize local logistics, empower communities, and fuel the growth of eCommerce across the continent.
This collaboration not only addresses logistical inefficiencies but also creates new economic opportunities for local residents and businesses, paving the way for a more connected and inclusive economy in Africa.
For more information on smart parcel lockers and other logistical services, visit Pickspot.net. To learn more about peaq’s powerful layer-1 blockchain for DePIN and Machine RWAs, visit peaq.network.