Will Akon city be a cash grab?

• @Akon plans to build two futuristic cities in Africa by 2036
• They'll be powered by #cryptocurrency
• They're intended to empower the people of Africa
• Will African politics allow it to thrive?

I shared my thoughts on #hive through
@FinanceLeo

Akon's dream of putting African countries on the map of technological advancement got a boost from the Ugandan government.

If you recall, Akon came up with plans to build a "real life Wakanda" as it is dubbed, in Senegal. Well, unsatisfied by having just one SciFi-esque city, he's already discussing another one.

Reports suggest that he's in advanced conversations with the Ugandan government about the establishment of Akon City 2 in the East African country.

This fascinating development will undoubtedly cost a small fortune and most of it will be coming from the Akoin cryptocurrency project.

Akoin is the premier currency of Akon's dream of upgrading Africa and will be the governance token of all the futuristic cities.

The Akoin was minted on Stellar blockchain and is currently being used by Mwale Medical and Technology City (MMTC) in Kenya. The token has largely been a success and it will be powering the futuristic cities.

The first city in Senegal is already under construction and will be open to people in Africa much sooner than the project in Uganda that has construction work stipulated to last until 2036.

The people
There's not been much said about the project but on the surface of it, the Ugandan government reps seem supportive.

Isaac Musumba, Uganda’s Minister of State for Lands, Housing, and Urban Development alluded to supporting the project. In a press conference held last week, he said that

A place suitable in Uganda that has not-less-than one square mile will be made available to him and his team so he can harness resources and investments, attract investors, manage the project, and have a city.

This is rather interesting coming from the minister, considering Uganda's stance on cryptocurrencies. Various snippets from the government's policies on crypto suggest some level of apathy towards digital assets. Statements like;

The government of Uganda does not recognize any crypto-currency as legal tender in Uganda.
The government of Uganda has not licensed any organization in Uganda to sell crypto-currencies or to facilitate the trade in crypto-currencies and so these organizations are not regulated by the Government or any of its agencies.
Well, considering it is a project that is scheduled for 2036, it is very possible that there will be a change in perception before the time comes.

Alternatively, there might be concessions made by the government, considering how beneficial the project will be for the country.

How do we get there?
One question that's been thrown around regularly is how the people will be able to afford to even get to this place.

Considering how sophisticated Akon City promises to be, I doubt that the mostly poor population of people in the region will be able to afford it. According to Akon, this shortcoming should be a motivation, rather than a deterrent, as he stated that;

“I know if I put it there, they’re going to find a way to afford it because it’s going to motivate them. Ultimately when you create an opportunity, people grow with that opportunity, people learn with that opportunity, people are motivated with that opportunity.”

From where I'm standing, that sounds a tad bit optimistic and somewhat utopian. I admit it is a good idea and ideally should give us something beautiful but I'm pretty sure it is just going to be occupied by the wealthy political class in the region.

Equaliser
In fact, depending on how isolated it is from the "normal world", it could turn into Haven for these crooked politicians while they continue to plunder the economy.

I think the best way to ensure that this thing doesn't blow up in our face, is to ensure that it reaches its target and doesn't turn into a cash grab.

The moment money becomes the centre of attraction, rich politicians will run the show and all you'll create is a microcosm of Africa inside Africa. The exact opposite of the goal.