Global Matters Weekly – 17 August 2020

Fast forward 10 years
by Jackson Franks

Former R&B singer and now entrepreneur Akon, announced in January 2020 that his vision to develop Akon City is becoming ever closer to reality. Situated in a small coastal village in the west of Senegal, Akon City will be 100% cryptocurrency based with AKoin (a cryptocurrency established by Akon) at the centre of all transactional life. Although I don’t see the world being run on cryptocurrency anytime soon, I do believe the real estate assets we see today will look and feel very different ten years from now.

Recently, Simon Property Group, a mall operator, announced they are in talks with Amazon about turning their department-store sites into Amazon fulfilment centres.

Market Snapshot

  • The S&P 500 index moved to within 0.2% of its all-time high in February
  • Russia announced regulatory approval for a vaccine – the first country to do so
  • Brent crude rose 0.9% ending the week at $44.8 a barrel
  • Gold fell -4.4% to end the week at $1945.1 an ounce