Karam Lakshman, CEO of Wifi Dabba, says decentralized physical infrastructure networks, or DePIN, could play a meaningful role in addressing connectivity gaps in developing economies such as India. His argument is rooted in a simple contradiction: India is the world’s fifth-largest economy and home to one of the largest internet user bases on the planet, yet it still trails major economies in fixed broadband penetration.
In remarks discussing DePIN and digital infrastructure, Lakshman framed the model as a new way to fund, deploy, and scale real-world networks using blockchain-based coordination. For countries where communications infrastructure is still uneven or underbuilt, he believes the model could lower costs, widen participation, and accelerate deployment in places often neglected by traditional operators.
Why Lakshman sees blockchain as essential
Lakshman describes DePIN as a framework that makes it possible to tokenize and coordinate real-world infrastructure assets. That can include communications networks, weather-tracking systems, compute networks, and other physical services that usually require heavy capital expenditure. In conventional infrastructure markets, building and maintaining these systems often demands large financial resources and tends to concentrate power among a small number of companies.
By contrast, the decentralized structure of DePIN aims to distribute both participation and rewards more broadly. Individuals or businesses can contribute by deploying hardware, validating portions of the network, or providing support services. In return, they can be compensated for the value they bring to the network. Lakshman argues that this opens infrastructure creation to a much wider base of participants while preserving incentives to keep expanding and maintaining the system.
For that reason, he sees Web3 and blockchain technology as more than optional additions. In his view, blockchain provides the transparency needed to coordinate a network with multiple users and operators. Shared resource pooling, he says, allows infrastructure to be deployed where it is needed most, while also potentially reducing service costs for end users. When this is combined with an incentive model for contributors and operators, Lakshman believes it can create a self-reinforcing cycle of network growth that traditional models struggle to match.
India as a test bed for decentralized connectivity
Lakshman makes a strong case for India as a natural proving ground for DePIN-based internet infrastructure. Despite the country’s scale and rapid digitization, he notes that nearly half of India’s 1.4 billion people still do not have internet access. Mobile connectivity is expanding, and the market is pushing toward a 5G future, but he argues that fixed broadband remains essential for filling persistent coverage gaps—especially in rural and suburban areas that large telecom operators may be less eager to prioritize.
To illustrate the challenge, Lakshman points to a stark fixed broadband comparison. According to his figures, China has about 636 million subscriptions, the United States has 127 million, and India has only just over 30 million. That gap, he argues, has direct consequences for digital progress and economic growth. Better connectivity is not only a consumer issue; it is tied to productivity, access to services, and broader participation in the digital economy.
From this perspective, India’s shortcomings are not a sign that the market is unimportant, but rather that the opportunity is unusually large. Lakshman believes DePIN could provide the kind of infrastructure innovation needed to help bring the “next billion” users online, particularly by addressing segments and geographies that remain underserved under conventional rollout strategies.
Beyond connectivity: building a broader services stack
Lakshman also outlined how Wifi Dabba sees its own growth path in India. As the company expands its network footprint, he sees opportunities for vertical integration that go beyond basic connectivity. In particular, he mentioned future value-added offerings such as cloud services and financial services. The logic is that once a network relationship exists, additional services can be layered on top, potentially improving user experience while also diversifying revenue streams.
That strategy reflects a broader DePIN thesis: infrastructure is not just about physical deployment, but about the economic ecosystem that forms around it. If operators, users, and service providers can all participate in a transparent, incentive-aligned network, the business model may become more resilient than one based solely on access fees.
Still, Lakshman’s broader point is not limited to Wifi Dabba. He argues that the connectivity problems seen in India are common across the developing world. In that sense, India functions as a high-stakes test market. If a decentralized wireless model can succeed there—at scale, across challenging geographies, and under real cost pressures—it may provide a template that can be adapted for many other countries facing similar infrastructure gaps.
Why developing markets may be the best fit for DePIN
Asked where else DePIN could make a difference, Lakshman suggested the more relevant question may be where the model can truly thrive. His answer points squarely to developing economies. In these markets, much of the infrastructure landscape is still immature, whether in communications, mobility, or compute. That creates what he sees as a “greenfield” environment in which new models have room to prove themselves.
In developed economies, by contrast, much of the core infrastructure is already built and markets are often saturated. That makes it harder for an alternative coordination model to demonstrate clear advantages quickly. In emerging economies, however, unmet demand is more visible and the social and economic benefits of lower-cost infrastructure can be more immediate.
Lakshman argues that DePIN can both accelerate and democratize infrastructure deployment. Because these networks are designed to reward expansion and ongoing participation, they may be better positioned to keep growing and evolving than systems built through centralized capital allocation alone. He also contends that DePIN networks can deliver services at lower cost than traditional alternatives, a factor that is especially important in price-sensitive markets.
His conclusion is straightforward: the next major DePIN success story is likely to emerge from the developing world, because that is where real infrastructure problems remain unresolved and where solving them can materially improve people’s lives.
A wider implication for crypto and real-world utility
The interview also highlights a broader theme in the crypto industry’s evolution. Rather than focusing solely on digital assets in isolation, DePIN projects attempt to connect blockchain-based incentives to tangible infrastructure outcomes. In Lakshman’s telling, the value of blockchain is not abstract; it lies in enabling transparent coordination, broad participation, and economic alignment around physical network deployment.
Whether DePIN can deliver on those promises at national or multinational scale remains an open question, but Lakshman’s argument is clear: in markets where connectivity gaps are still large and traditional rollout models have left many communities behind, decentralized infrastructure may offer a credible alternative path. For India—and potentially for many other developing countries—that makes DePIN more than a crypto narrative. It becomes a test of whether blockchain-based systems can help solve foundational real-world problems.