That latter assertion is based on the theories and real-world examples presented by Peruvian economist Hernando De Soto, who is known for his work on the informal economy and the importance of business and property rights.

In low-income countries like Ghana, people are concerned with basic needs and infrastructure such as running water and paved roads.

Boesing says: “The Bitland team will use blockchain technology to help accelerate infrastructure development by freeing up capital – without the corruption and abuses of power that have plagued such projects in the past.”

However, Bitland cannot rely on the existing local infrastructure alone due to ‘rolling blackouts’, which if you are not familiar with are a major problem in Ghana. In many areas of the country, the infrastructure is completely unreliable, and there may be 24 to 48 hour periods where large swathes of the population have no electricity.

In this situation, using electronic solutions would not be feasible unless there was a fail-safe as part of the ecosystem.Therefore the team has a plan to build solar-powered Bitland centers in Ghana that will function as hardware hubs for the Bitland wi-fi network, which won’t go down due to power outages.

These hubs will double as education centers for locals to learn about digital solutions and how to get involved in the project.

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Read the whole article on the website of Forbes