Blockchain
Pickspot joins peaq to solve the last-mile delivery challenge in Africa with a DePIN of smart parcel lockers
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.”
The post Pickspot joins peaq to solve the last-mile delivery challenge in Africa with a DePIN of smart parcel lockers appeared first on HIPTHER Alerts.
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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