Locpin, a new start-up backed by Fat Face investor Clive Beharell, has created a six-character location code accurate to within 10 square metres anywhere on the planet.
If you think Ireland has problems in being one of the last countries in the world to deploy postcodes, the UK has only 1.8m postcodes to serve 29m addresses and 10-15pc of these are inaccurate.
Launching today, Locpin has created a location-based coding system that can pinpoint any address or location using special six-digit codes. This development could have important ramifications for e-commerce, social media and delivery of goods, especially at a point in time where e-commerce transactions are going to start featuring within platforms like Facebook Messenger.
Locpin can create up to 2bn unique address codes per country for permanent and temporary locations.
It also gives users the ability to set up their own unique location fingerprint that can move with them and for which they have complete ownership. For example, in the event of moving house users don’t need to worry about changing address with every utility provider, bank or website, they just need to adjust their Locpin settings.
Co-founder Guy Davenport said that the system was created in response to the fact that postcodes in the US and UK aren’t entirely accurate.
“Our focus is on creating something that is easy to set up and ensure accurate delivery-point data.”
Locpin is a six-digit alphanumeric code that can be randomly assigned. “Because the user creates the code there is the ability to add context so you can create personalised codes that you could create around your brand.
“We don’t want to create just another location code. What we’ve built is the ability to associate a code to your email address and phone number and find the location through this too.
“In fact you can actually tag yourself with a code and send that out as a URL or put in contacts.”
Davenport explained that Locpin uses Google Maps APIs to capture longitudinal and latitudinal data to be accurate within 10sqm of a location.
“For consumers Locpins will be free and, if you move house, you can just update your address online.
“For businesses we have built an API that they can use to find customers and that’s what we will charge for. We have a rate card based on usage within our software-as-a-service (SaaS) platform.”
Davenport said that the Locpin code can also be used to protect data by giving ownership of location data back to consumers.
A recent IMRG Consumer Home Delivery Review found that while 74pc of shoppers are happy to share data with third parties, 72pc still worry that companies don’t take adequate steps to protect their data.
Prior to starting Locpin, Davenport studied chemistry at Bristol University and the idea for Locpin came from his frustration with failed e-commerce deliveries.
“It occupied my mind and I love solving problems and I put my mind to it.”
He said that as drone deliveries and services start to come on stream Locpin will be ideally placed to ally with drone firms.
“The core of the platform is GPS longitudinal and latitudinal data and integration with any platform and system is very easy.
“As this market develops there will be lots of changes and new players. Expectations will also change and people will be expecting same-day e-commerce deliveries or even sooner.
“This is absolutely something we are positioned to be ready for,” Davenport said.