AI and Blockchain for Diaspora-Driven Development: A New Frontier for Global South Financing

Abstract

The Global South continues to grapple with ongoing development finance shortfalls, hence the renewed emphasis on diasporas' transformatory capacity. Remittances and entrepreneurship have historically contributed, today diasporas are in the best position to leverage new technologies specifically Artificial Intelligence (AI) and blockchain to upgrade their contribution. Here, this article analyzes how these digital technologies can enhance transparency, trust, and data-driven decision-making in diaspora-led projects. Drawing on interdisciplinary research and diaspora case studies in Indonesia, India, and Zimbabwe, the study demonstrates how AI can make diaspora engagement strategies more streamlined using predictive analytics and how blockchain offers traceable and secure financial mechanisms to combat fund diversion. Regardless of regulatory and infrastructural limitations, the convergence of diaspora networks with frontier technologies presents the singular opportunity to re-engineer development financing in the Global South. The article concludes by providing inclusive, technology-based policy solutions to leverage diasporas as strategic resources for achieving sustainable and inclusive development.