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.”
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
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A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
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