EMPOWERING DEVELOPING COUNTRIES AND REMOTE COMMUNITIES: A DECENTRALIZED IOT NETWORK LEVERAGING DISTRIBUTED LEDGER TECHNOLOGY AND DAG FOR CONNECTIVITY AND FINANCIAL INCLUSION

Blockchain or Distributed Ledger Technology’s (DLT) disruptive architecture will revolutionise both economic activity and social structure. Institutional crypto economics is a new analytic framework for studying that evolutionary process in general, and bitcoin in particular, it presents us with a new method of organising the world, just like the Internet did. Bitcoin will have a similar effect on economy, money and finance. Developing countries face multiple problems such as lack of financial services and infrastructure (road, railways, telecommunication, and others). The disruptive architecture of Blockchain or Distributed Ledger Technology is well suited to benefit developing countries. This will be clearly visible in the implementation and application of Internet of Things (IoT) in emerging services. The nature of innovation in service-sector-based technology in developing countries differs, and the nature of IoT as a potentially disruptive emergent service product technology enabler emphasises this difference. The conventional productprocess innovation divide may no longer be applicable: the true value in IoT rests in neither. It is present in the system as well as the data collected by all devices everywhere in the world. The services income, which is generated by a combination of intelligent apps, analytics, and system integration services, represents a considerably greater revenue possibility for both developers and consumers of IoT enabled use cases. This paper presents how a peer-to-peer network that provides coverage for low-power IoT devices bringing a new viewpoint to the cellular telecommunications market. The network is a decentralised IoT infrastructure that is built on a Blockchain or Directed Acyclic Graph (DAG) by the people, communities, and individuals to offer hotspots wireless to the communities that help creates opportunities in financial freedom, helps supply chains traceability, forestry control and others. The paper demonstrates that decentralised IoT networks based on Tangle DAG can reduce infrastructure costs by 35-40% while increasing wireless coverage by 60%, with 1.5 million devices per 100 hotspots. It makes a unique and significant contribution to the deployment of IoT on Blockchain or Distributed Ledger Technology, as well as its potential to reduce poverty by improving the effectiveness and efficacy of existing procedures in various sectors of developing countries.