Topic: Akon City.Is Wakanda the real world version? Can it help the African economy? (Read 183 times)

It's a common saying in Africa by truthful keen observers that, "Africa isn't actually poor but it's poorly managed." Endowed by several natural resources, one would think that should be a plus for Africa. But no, her leaders wouldn't let that be because of their corrupt tendencies.

Let's start from the microcosm of the Africa continent with the involved country of the singer's origin, and then we can talk of the entire African economy as your question probed. If Senegal can kill or control corruption of its leaders to the bearest, I think the Akoin city project will succeed a great deal and help improve on the economy. Hopefully too, the project isn't hijacked by politicians in the country.

I am quite impressed by couple of cities all around the world, like when we talk about a city called auroville in India, they don't even have a currency there, so many people from so many nationalities and so many states are living peacefully since 1968. The whole idea of me Stating that is : To organize the thoughts in direction of how these cities with a different, a very different organization and body can function well, way better then the current government. I don't know, no one really knows if the city would be a success but there is no harm trying, there is actually harm in not trying therefore at the end of the day, I do believe that, these things would work well and make at least a couple of changes for sure.

Why would a city change the economy of a continent?
It's like saying that Burj Khalifa led to 20% GDP growth in Yemen or the city of Neom would lower poverty rates in Pakistan.

It's just a city that would cost billions, would require billions in daily maintenance and costs, and is built in a country where people don't have those billions. Guess what the outcome will be?
Besides, there are a lot of those projects, Senegal is actually building a city on its own without any tokens, called Diamniadio, which btw, is the city in those rendering you see on the internet, like this one:

and not Akon city.
There is also the new capital of Egypt and lots more, and the main difference between those is that they can actually be built, Akon city is more of a dream.
And if you're not convinced and still bullish on it, here is the token chart:



Pretty....pumpish-dumpish, isn't it?

Creating a city out of nothing is extremely expensive and hard and also inefficient. If this project was about taking an existing city and "upgrading it", it would have been more believable, but still it would probably just be another ICO/token scam. Instead of thinking how it can help their economy, I'd rather worry if it won't cause any damage when it collapses.

The cryptocurrency industry should not be stranded to one location only,it should be spreading across multiple cities and multiple countries,even multiple continents.
That's why I am always skeptical about all those "Bitcoin city" or "Crypto village" type of projects.
What's the point for the people to come and live in a city like this one?Using altcoins for payments?
The main incentive for the people to come and live in a city like Akon would be finding a good job.
The crypto industry can create jobs only for the tech savvy people.All the uneducated people are left behind.
What would be the main incentive for businesses to come to Akon City?Accepting crypto payments isn't enough.

To me it is 100% clear that this will not happen or even if the infrastructure happens in some capacity I am pretty sure it will not live up to the hype that they are promoting it. This is a bad idea and will not work. I would however support anything that tries to help places that need help, could be not an efficient way of helping but it is at least helping in some sort of way so it is at least good in heart which is all that matters. They can't just create a fully on tech based "city" which is basically a town, and use just one coin, they are not their own nation and will have to accept fiat, even if they make it a place where people could spend crypto as well.

It is not really a simple process and I feel like it is not going to work at all. At the very least, some people are spending some money and that money goes to at the very least construction workers, which is better than zero.

In the united states, there are camps of homeless living in tents only 1 block from big and expensive office buildings where high paid executives work. In places like india it seems normal for lamborghini owners to drive through slums with a camera, to later publish the experience on social media. Extremes of wealth and poverty are often found dwelling in close proximity in the modern world. While africa may not be the wealthiest nation, it would make sense for them to have cities which support modern conveniences like high speed broadband infrastructure, chargers for electric vehicles, WIFI hotspots, satellite internet and TV, solar panel and windmill powered homes, and businesses offering specialized skillsets and services to the public.

Akoin could have advantages in that it may not be banned by china or having its crypto mining industry under fire. There have been similar regional alts like auroracoin in iceland which have been in circulation for many years.

https://en.wikipedia.org/wiki/Auroracoin

Not certain if akoin is pre-mined. It could be legit. Personally I don't mind developers of the city who invest time and money into the project, regulating the local currency. The fate of akoin and akon city are tied together and closely bound. If they devalue the currency, they'll only succeed in destroying their own city. So long as the interests of akoin and akon city are aligned. And so long as the concept and motive behind akon city remains genuine. I don't think the margin potential for fraud or abuse is high.

I don't really know that will this plan work? But as far as I am concerned it has less chance because its in Africa where people actually makes very kess money even many people don't have proper shelter, water, food then how they are going to adapt to the digital money economy?

You know one thing in business is to implement strategies that will make your product official and influential to the societies, from my perspective since the Akon precisely choose to start up with the wakanda that's not wrong decision because the tagged name wakanda is making their project popular so it most be that they choose a name that is related to their ethnicity before they project will come on board precisely.

With crossed fingers, I hope and pray this plan will succeed. I don't entirely share the approach, but this is obviously beneficial to the people in Africa so I fervently hope the goals and objectives of this project will be met.

I saw the project's perspective of the city and it is truly amazing. It is unbelievably beautiful. Whether every detail of the plan will be translated into reality or not, we can only wait and see. After all, this is an ambitious multi-billion project. It is not cheap. And looking at the fate of the coin that would become the city's currency, it is doing poor, with less than $20,000 volume and a negative ROI. I hope its figures will change once the city becomes functional, though.

What I also hope is that Bitcoin would also be accepted in the city. Or perhaps they won't allow it because it would compete and, therefore, be detrimental to Akoin?

Things like this are indeed quite good because he himself wants to advance the country and even the continent but can it really be done? is Africa now ready for this? because indeed as you say with the current minimum wage in africa i have doubts about this.
On the other hand, why do you have to make Akoin (AKN) for transactions, for example, you can't just use BTC because I think this is better.
not without reason because indeed akoin also implements the same system, namely decentralized and this is certainly contrary to the country which is still using the CFA franc. regulated and issued by the central bank BCEAO based in Dakar.

Before having a conclusion.

We have to wait and see it in operation. Because having a conclusion without seeing the application of this Akon City, we might eat those words back especially if they're negative and then we get to see that it has improved the lives of people living there.

It is still on development and who knows, maybe this is better than the metaverse hype that we're seeing right now or it could go worse than the result of ICOs and other crowd sales, no one knows.

The idea behind the Akon city is a welcomed one and I think its very possible though, its bond to face certain challenges. Challenges of over population given the fact that, its planned to offer cheap residence or quality to some livihood and as such, a lot of individuals have got to want in.
Though, i'm sure it would be far from what wakanda was in the black panther movie.

One thing we ought to realise about the manifestation of this project is that, its been done too many times already. Look at Dubai and the proposed Saudi Arabian Prince Mohammad Bin Salman project of Nepn City. Its just the same thing with Akon city except the fact that, the Akon city will adopt a cryptocurrency AKN as legal tender.

That can be realized if this coin really gets full support from all elements so that it not only supports the upper-middle economy and also not only entrepreneurs who have easy access to it but also becomes a stepping stone for the people who are there to be more friendly with local crypto. At least it gives an idea of how crypto is being implemented so that people gradually feel economic equality as is currently experienced by a singer.

Well, people may think theoretically Ackon city is the closest thing to Wakanda, I'm not familiar very much with the project but as far as I know about the Ackon project they also have their coin named, AKN which is a project that is mostly used and discussed by the crypto entrepreneurs in africa here about after reading for a little bitcoin about the project and even doing some research I can say I don't think if Ackon city ever close to being called Wakanda. But they may use this name for their own popularity especially in africa.

Yep, at least the concept they run is quite good and the intention is noble enough to advance their country and continent which incidentally in the word Africa is still considered like a poor continent by some people.
but on the other hand I think this will certainly take more time.
2023 forecast is just a basic estimate and even I have my doubts about the concept which I feel is too high for that level.
they need to work hard when they want to build and finish in the year.
Apart from that, they also have to be able to make something that doesn't benefit only a few parties because this kind of thing can actually be used by irresponsible people who want to enrich themselves.

It'll take a while to build it (it's by the end of next year only if we count the basic infrastructure, not blockchain integration), and 7 or more years from now Earth can become a very different place. I think it's an interesting concept, but why do they actually need a new coin for this all? I'd have more trust in it if they were planning to use Bitcoin as the main cryptocurrency. Also, while I like Wakanda, it's focused on military technologies and local cultures, but not on finance. I think that if they succeed to build it, it can become a good city, especially since it'll be eco-friendly. But as for cryptos, I don't think it'll shift the power dynamics between them and that Akoin will be a serious competitor of Bitcoin.

Here is the closest thing to an update I could find on Akon City (Wakanda Forever?).




There have been similar projects in the past. LeBron James of NBA fame in the united states did succeed in starting his own school. Other professional athletes and performing artists like Bob Marley fed those living in poverty from the villages and towns they came from. There are some who became rich and famous who have succeeded in giving back to their local communities in the place they came from.

Akon City could be considered an attempt to modernize a city in africa. Construct a techno city for upper income earners. It could represent a good starting point to normalize things like high speed internet, electric vehicles and other innovative technologies. In an effort to begin a trickle down approach.

With the average wage in poor parts of africa being around $4 a day. I don't think they could conceivably build high tech living quarters and infrastructure that would be cost effective for those in the lowest income bracket. But they could conceivably cater to the top income bracket and have the beginnings of a movement which would eventually provide modern amenities for all.

Wakanda has a monopoly of vibranium which is a sought after metal by many countries for it's properties that's unique to it which means that Akon City has to have something that's unique to their city that they're the monopoly of it and given the development speed of the city, I don't think it's ever close to being called Wakanda.

Akon City was started in 2020 after several permits from several parties there and the originator of this Akon City is one of the singers of Akon where he is a bitcoin enthusiast as well.
Akon City has quite complete facilities with various kinds of office buildings, hotels, apartments and others.
but even though Akon City has complete facilities, they are also eco-friendly because they use a solar system and most importantly the cost is expected to be cheaper than the cost of living in New York with the same quality of facilities.

on the other hand in Akon City also has coins that are used for transactions in Akon City and these coins are Akoin (AKN).
in the whitepaper it is explained that this Akoin (AKN) is a cryptocurrency that is supported by a blockchain-based ecosystem service that aims for entrepreneurs in Africa and its surroundings, besides that Akoin also has the goal of becoming a common transfer medium used in Africa and has allowed Africans to engage in a digital-based economy.

Akon City is expected to be completed next year located in Senegal.
Can this really good project change the African economy today?

Source :
AKON CITY
roadmap