The Kwik Pik app functions as a Delivery-as-a-Service (DaaS) DePIN, linking local drivers with individuals who require package delivery services. This addresses the challenge of fragmented delivery systems across the continent, thereby improving the efficiency and reliability of the traditional process of sending items.
DePIN represents a narrative within the Web3 ecosystem focused on leveraging blockchain technology to facilitate the development of physical infrastructure in various real-world sectors such as transportation, energy, and wireless connectivity.
“Imagine building roads not with government contracts, but with token rewards and a network of independent builders, and all of their activities are recorded on the blockchain,” Kwik Pik says.
“In the case of Kwik Pik, we are a delivery as a service DePIN building a decentralized ride-sharing network fueled by token rewards for drivers and riders, all recorded on Hedera DLT.”
According to the firm, leveraging Hedera DLT means that they can track and hash or record packages on the blockchain, in the process creating trust and efficiency. Moreover, there are no single points of failure, every activity can be tracked on-chain, ensuring that the delivery network is robust and dependable.
There has been a lot of buzz about decentralized physical infrastructure networks #DePin lately. @Hedera is a pioneer in this space with teams like @Neuron_World & @SEUN_water. @getKwikpik is our latest. Think @Uber + @FedEx.
For more Hedera news👇https://t.co/tzGurti1IV pic.twitter.com/j01Cf1S7oN
— The HBAR Bull (@thehbarbull) February 4, 2024
Leveraging the Hedera Network and Google Maps, Kwik Pik logs all driver journeys as immutable records on the Hedera Consensus Service (HCS) to help ensure both customers and drivers are protected from accusations of fraud, theft, and item loss. In an industry rife with fraud, this provides workers with added job protection.
Here are the stats shared by Kwik Pik as regards the product use case so far:
- 5,375+ deliveries
- 1,239+ users
- 21+ B2B customers
Kwik Pik also records the carbon emissions generated by all driver journeys on the HCS (Hyperledger Carbon System). This capability allows the team to offset their carbon footprint and precisely report their Environmental, Social, and Governance (ESG) data as they transition towards a future driven by electric vehicles (EVs).
Kwik Pik’s $KPL stablecoin is powered by Hedera Token Service (HTS). All payments and transactions within the app are conducted using $KPL to ensure optimal cost efficiency for both drivers and users. When withdrawn from the mobile application, $KPL is converted into fiat currency through burning.
Transactions settle in real-time, and Kwik Pik manages the offramp process leveraging APIs from partners, Flutterwave and PayStack.
“Our use of the Hedera DLT has given us clearer insights into our carbon emissions activities on each package delivered, distance covered, financial and delivery transaction records, delivery IDs, and wallet addresses.”
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