Peaq & PickSpot Team Up to Decentralize African Last-Mile Logistics
Peaq, a layer-1 blockchain, has revealed plans to expand its ecosystem by welcoming PickSpot. This collaboration aims to decentralize last-mile logistics in the world market, particularly Africa, a market projected to reach nearly $3 billion by 2032.
PickSpot, a startup focusing on smart parcel lockers, will initially test its DePIN on Peaq's agung test network and krest canary chain before a full launch on the mainnet. This strategic move allows PickSpot to leverage Peaq's robust infrastructure and Modular DePIN Functions for building its backend, deploying smart contracts, and minting its token.
Peaq, in turn, will serve as the layer-1 blockchain for PickSpot, providing essential services such as identity management and role-based access controls. This integration will enable PickSpot to adapt to Africa's vast local informal trade networks, supporting P2P parcel exchange functions. By addressing limited infrastructure challenges in Africa's e-commerce and stock market today, PickSpot aims to facilitate growth in the market, projected to reach $46.1 billion by 2025.
PickSpot's decentralized network of smart parcel lockers allows users to receive and send parcels, with locker owners, or PickSpot agents, earning rewards for their services. This innovative approach fosters a more efficient and inclusive logistics ecosystem in Africa.
The collaboration between Peaq and PickSpot is set to revolutionize last-mile logistics in Africa. By integrating PickSpot's smart parcel lockers with Peaq's blockchain infrastructure, the partnership addresses infrastructure challenges and supports the growth of Africa's e-commerce sector. As testing progresses on Peaq's networks, the launch of PickSpot's mainnet promises to bring innovative solutions to the continent's stock market.
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