In Africa, some of the most celebrated people are wealthy people, the ones that make Forbes lists as some of the wealthiest. They make the news at the slightest provocation, parents asks their children to emulate and be like them. These billionaires are household names like Aliko Dangote and Mike Adenuga.
The problem here is that most of these Africa billionaires are not self-made in the sense that their wealth are not of their own intellectual capacity, take a look at Jack Ma for example and how his incredible drive for e-commerce made him one of the wealthiest people in the world.
When you compare that to what we have in Nigeria, you'll discover that the billionaires we have in Nigeria are the ones that have been in liaison with the government in a monopolistic agreement to do away with the perfect competitive market structure, create only one channel of distribution and benefit from the woes and misery of people.
Thinning The Herd
People like Aliko Dangote are the reasons why the distribution of opportunities are thinned. While some people would argue that Dangote has created jobs and paid the salaries of people. The question now would be; "at what cost?" The number of people getting employed by monopolists as Dangote isn't even half of qualified people fighting the unemployment level in the country.
This is because, when the exclusive patents given to him to produce some essential goods are shared amongst manufacturers who are now defunct, more people will be employed, the price of goods will be fixed and there will be free entry and exits for manufacturers, thereby creating a larger scale of employment in specific industries.
Should we talk about how the incessant abuse of discriminative price increment would stop, or how his wealth intake will reduce and allow for other billionaires who will be self-made when given equal opportunities as him?.
Should we also talk about Mike Adenuga who made his wealth from oil and telecommunications? Obviously not. This is because these people are following the same pattern, getting rich through monopoly of exposure in liaison with the government of which the downside is starving people of opportunities while enrich themselves through exploitative tendencies.
Originally, people like this are why Nigeria is in a mess. So many people who are outside Nigeria, understands that Nigeria is a wealthy country, so how is it that the quality of lives of people are poor, and the economy is in shambles, the government has seriously incurred debts with countries like China?.
It's simple, the economy is monopolistic, the government is in liaison with a few people who are given the liberty to take pure and uncut opportunity in the country meant to be distributed fairly to only a few people, making the custodians of wealth.
Crypto; A Platform & More?
This is one of the reasons why Crypto would be more impactful in the African continent entirely. The wealth made by most African billionaires are made by excessive exploitation caused by monopoly.
In hindsight, Nigerians are probably the most creative people in the world, the secrets of their ingenuity comes from surviving in a country without structural framework or a platform where they can build by default. This is why crypto is more adopted in Nigeria than most places that should probably be more aware of it.
Apart from the fact that crypto creates a platform, it gives people leverage and create an opportunity where people can use their skills to build a different form of wealth for themselves, free from whatever the government is totally offering. Furthermore, we have come to understand that crypto is even more. Creating thousands of millionaires rather a handful of billionaires is
Crypto: The (Im)Perfection In view?
Crypto isn't on the cusp, it's already changing the lives of average people with nothing. I've seen people who are taking advantage of crypto to build a standing for themselves in some of the most creative ways that are actually so rare.
One thing I know is, people don't need the certainty of wealth, they only need money to actually build a foundation for themselves. This isn't to say crypto is perfect. There's are people who are generally in crypto with the aim of taking advantage to enrich themselves and cut the ladder below them, preventing others from climbing. The truth with Crypto is that it's a cloud that's big enough for people to fly in.
The more involvement actually brings more adoption. While it's difficult to change how the system works in Nigeria, a lot of people do not know why they're lacking the proper platform especially towards employment and building their lives despite being qualified
Interested in some more of my works?
A Personal View Into The Meaning Of Spirituality (ecoTrain QOTW)
Why You Couldn't Create Good Contents In 2021, Why You Still Wouldn't In 2022.
A Psychoanalytic Dive Into Incentivized Loyalty
The Nigerian/African Disposition On Marriage As An Endowment
Living & Living Unintentionally (The Financial Repercussion)
@Josediccus, your brother-in-pen & heart
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