Grace Ashiru
September 26, 2024 — peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as Pickspot joins to decentralize last-mile logistics in Africa. Pickspot is building a DePIN of smart parcel lockers that people and businesses can set up at high-footfall locations. Through these smart parcel lockers, people in the area can receive and send parcels with ease and convenience, which earns rewards for Pickspot agents — the owners of the parcel lockers. The project will tap peaq’s Modular DePIN Functions to build its backend, deploy its key smart contracts on the home of DePIN, and mint its token on the network.
Africa’s rapidly growing economies are transforming it into a critical economic hub in the 21st century. This expansion is driving a surge in demand for logistics solutions, especially local deliveries that enable both small and large-scale commerce. The continent’s e-commerce sector is projected to reach $46.1 billion by 2025, further amplifying the need for efficient logistics. Africa’s last-mile delivery market is expected to grow to nearly $3 billion by 2032. However, despite this promising growth, challenges such as limited infrastructure continue to hinder both the e-commerce and the wider logistics sectors.
Pickspot takes aim at this exact challenge, building a network of community-owned smart parcel lockers working as a crucial part of the larger logistical ecosystem, powering last-mile delivery wherever the community needs it. By setting up a smart parcel locker and minting it as an NFT in any high-footfall location, from a mall to a residential building, anyone can start earning rewards in crypto — as well as 50% of all the fees the machine is collecting. The smart parcel lockers will enable local residents to conveniently receive and send parcels, reducing unsuccessful delivery attempts by couriers. This will stimulate eCommerce in the area and expand the reach of local businesses. Pickspot also supports P2P parcel exchange functions, making it uniquely adapted to support Africa’s vast local informal trade networks.
The project is integrating peaq as its layer-1 blockchain, leveraging peaq IDs as the identity management on the system; later on, Pickspot will also use peaq access to set up role-based access controls on the network. Pickspot will build a dApp for onboarding new lockers and agents and create smart contracts for minting lockbox NFTs. It will set up its rewards mechanism on peaq and mint its token on the home of DePIN. Before the launch on peaq mainnet, the project will test its DePIN on peaq’s test network agung and canary chain krest.
“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.”
“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.”
About peaq
peaq is leading a global infrastructure revolution, empowering people to own and earn from mobility, energy, connectivity, environment, agriculture, and digital infrastructure. peaq is a layer-1 blockchain designed to be the go-to backbone for DePINs (real-world apps). It is home to more than 45 applications in 20 industries and to the 1,000,000+ devices, vehicles, machines, and robots (Machine RWAs) that run on them. peaq serves as permissionless, borderless digital infrastructure for increasingly intelligent machines to serve all of humanity – the 100%, not just the 1% – democratizing abundance in the Age of AI and job automation.
For more information, visit peaq, follow peaq on Twitter/X for updates, and join the conversation on Discord.
About Pickspot
Pickspot is revolutionizing the way people and businesses in Africa manage last-mile delivery and parcel storage across urban and rural environments. As a decentralized network of smart lockers, Pickspot empowers agents, couriers, and communities to securely store, send, and receive parcels with ease. Built on blockchain technology, Pickspot enables peer-to-peer transactions and provides affordable access to e-commerce delivery solutions, fostering a more inclusive economy across the continent. By combining innovative locker infrastructure with cutting-edge software, Pickspot is creating a seamless experience that prioritizes convenience, security, and accessibility for all.
For more information, visit Pickspot, follow us on Twitter/X for updates.
