The year 2024 witnesses a staggering number of over 70 elections scheduled globally, with a significant portion of them, around 26, set to take place in Africa. These elections encompass a diverse range from presidential to local government elections, providing a crucial opportunity for over half of the world’s population to exercise their voting rights. 

However, artificial intelligence (AI) substantially threatens these democratic processes, particularly in Africa. The voting populace in many African nations is not adequately informed about the potential dangers associated with AI in elections. Moreover, regulatory frameworks for governing AI’s role in electoral processes are still lacking.

Africa’s preparedness and soft laws

Despite these challenges, Africa is not entirely unprepared to address the AI threat. While continental guidelines are absent, many African countries have laid the foundation for regulating AI in elections through “soft laws,” including declarations and guiding principles. The 2002 Declaration on the Principles Governing Democratic Elections in Africa, established by the Organisation of African Unity, sets crucial principles such as impartial electoral bodies and respect for human rights and the rule of law. These principles can be both positively and negatively affected by the use of AI.

Building on this foundation, the AU’s 2007 African Charter on Democracy, Elections, and Governance includes provisions related to technology’s role in governance. While it encourages information technology to advance political, economic, and social development, it lacks specific details on how technology, including AI, should be employed in elections.

Critics and ethical framework

Critics argue that the charter’s lack of specificity leaves it powerless to regulate recent AI innovations such as micro-targeted political messaging. Nevertheless, the charter’s broad principles, which oppose discrimination and call for transparent, impartial processes, still provide an ethical framework applicable to AI.

Despite these limitations, individual African nations have taken steps to govern AI themselves. Many have introduced policies related to data protection, cybersecurity, and e-governance. Data protection laws regulating how personal data, including voters’ information, can be processed are particularly relevant to AI’s use and development. To date, 35 African countries have enacted data protection laws, with three others in the draft stage. This expanding legal ecosystem allows AI control, even without binding continental standards.

AU’s AI governance efforts

Simultaneously, the African Union (AU) is intensifying efforts to establish a comprehensive AI governance regime. The draft AU-AI continental strategy seeks to increase public awareness of AI’s societal impacts and regulate the development of accountable AI systems. The AU’s working group on AI plans further steps to govern AI on the continent.

With both grassroots progress and high-level plans underway, Africa is making promising strides toward managing the potential of AI. However, much work remains as malicious actors may seek to exploit AI to undermine the continent’s democratic aspirations.

Recommendations for safeguarding democracy

To strengthen Africa’s elections in 2024 and beyond, AU member states should urgently ratify and implement the core principles of transparency, impartiality, and respect for human rights outlined in the African Charter on Democracy, Elections, and Governance. Furthermore, the AU must establish binding guidelines specifying how AI can and cannot be used in electoral processes.

These guidelines should mandate transparency in AI systems used for political messaging and strictly limit micro-targeting to prevent manipulative personalization. Robust audits must assess AI tools for bias that could disenfranchise women, minorities, and other vulnerable groups. Electoral bodies should create specialized oversight capacities to monitor AI activities, aided by civil society watchdogs. Given the establishment of data protection authorities in most African countries, this function might be delegated to them.

Recently, Akash Network has become a notable success in the world of cryptocurrency. The value of its AKT coin surged in August 2023. Akash Network is grabbing attention with an astonishing 1500% surge. The cryptocurrency space is abuzz, and AKT is gaining unprecedented attention. Let’s take a look at this Akash Network price prediction article in mored detail.

What is Akash Network (AKT)?

Akash Network stands out as a secure, transparent, and decentralized cloud computing marketplace that connects those in need of computing resources with those who have unused computing capacity available for lease. Akash Supercloud, the platform’s flagship offering, presents a faster, more efficient, and cost-effective alternative to traditional cloud service providers.

Notably, Akash Supercloud enables individuals with spare computing power on their computers to become cloud providers. This is achieved through a safe and seamless marketplace where users can offer their unused compute cycles.

The native token of Akash Network is AKT. This token plays a crucial role in the network’s functionality, serving as a staking mechanism to secure the network and standardize compute prices during marketplace auctions. To maintain a high standard of automated signing infrastructure, a limited set of validators, initially 64, are required. Validators charge delegators a commission fee in AKT as part of the network’s operational dynamics.

How has the AKT price moved in recent days?

As of now, the price of Akash Network is $2.98, with a 24-hour trading volume of $3.79 million. The market cap for Akash Network stands at $671.12 million, and its market dominance is at 0.04%. Over the last 24 hours, the AKT price increased by 4.19%.

The highest price for Akash Network was recorded on April 6, 2021, when it reached an all-time high of $8.04. On November 21, 2022, it marked its all-time low at $0.166008. Since its all-time high, the lowest price was $0.166008 (cycle low), and the highest AKT price since the last cycle low was $3.33 (cycle high). Currently, the sentiment for Akash Network’s price prediction is bullish, while the Fear & Greed Index shows a value of 52, indicating a neutral stance.

The circulating supply of Akash Network is 225.21 million AKT out of a maximum supply of 388.54 million AKT. The current yearly supply inflation rate is 97.79%, resulting in the creation of 111.35 million AKT in the last year. In terms of market cap, Akash Network is currently ranked #17 in the Proof-of-Stake Coins sector and holds the #6 position in the AI Crypto sector.

Akash Network price prediction: Why is AKT Price Up?

Akash Network witnessed substantial growth in recent times, driven by a series of strategic moves. Its parent company, Overclock Labs, acquired the Cloudmos protocol at the beginning of the month and made its code open-source. Additionally, hosting a hackathon and allowing the use of the USD Coin (USDC) stablecoin contributed to its expansion. Furthermore, the announcement of a mainnet upgrade added to its positive momentum.

These developments propelled AKT to a remarkable increase of over 1,200% in the previous year. By January 9, its value had surged to approximately $3.09.

As Bitcoin ETFs is capturing attention, notable achievements continue to unfold on Akash. SDXL on Akash has impressively surpassed 80,000 generations, showcasing the platform’s robust performance. Simultaneously, the number of daily active leases has reached a new record high at 854. The $AKT community maintains a steadfast focus on adoption, recognizing it as a daily priority. These milestones underscore Akash’s growing prominence and utilization, demonstrating a strong commitment to fostering practical applications within its ecosystem.

The Fidelity Center for Applied Technology has acknowledged the structural advantages that projects like Akash, and other Decentralized Public Infrastructure (DePIN) initiatives, can offer over traditional incumbents. This recognition underscores the potential of decentralized technologies in providing innovative and efficient solutions, challenging the existing structures in various sectors. 

Akash’s role in this context demonstrates the growing influence of decentralized platforms in reshaping and optimizing existing infrastructures, garnering attention and validation from established institutions like the Fidelity Center for Applied Technology.

Akash Network price prediction: Is AKT Price poised for a substantial surge?

Akash Network has demonstrated its resilience as a decentralized cloud computing platform on the Cosmos blockchain. Bouncing back from the $0.75 level in mid-October of the previous year, the $AKT token has experienced an impressive 322% surge in the last three months.

Notably, in the first week of January, the coin saw a remarkable 40.4% increase in value, securing a position in Coingecko’s Top 100 list. The driving force behind this surge appears to be Akash Network’s distinctive approach to providing decentralized cloud services. This approach enhances the price-performance and scalability for decentralized applications and organizations.

Operating on the Cosmos SDK and employing a Proof-of-Stake consensus process, Akash maintains network integrity through a decentralized network of validators, affectionately known as “delegators.” These delegators stake their $AKT tokens to strengthen the security of the Akash chain. The recent upswing in $AKT’s price coincides with ongoing discussions about the spot Bitcoin ETFs.

Akash Network price prediction: Can AKT Price reach $15 in 2024?

Over the past year, AKT has exhibited exceptional performance, witnessing an impressive surge of 1,121%. This remarkable growth positions AKT among the top-performing assets, outpacing 96% of the top 100 cryptocurrencies. 

Notably, it has surpassed the performance of both Bitcoin and Ethereum during this period. The token’s current position above the 200-day simple moving average further underscores its positive trend. 

Despite experiencing 15 green days in the last 30 days, constituting 50% of the period, AKT remains -63% below its all-time high, indicating a recent correction. 

It’s important to note that AKT’s market liquidity is relatively low, as reflected in its market cap. Additionally, the yearly inflation rate of 97.79% suggests a substantial increase in the token’s circulating supply, a factor that investors may need to consider in their analysis.

So, the future outlook for Akash Network suggests a trading range between $2.75 and $5.25 in 2024. If the market performs favorably and AKT reaches the upper end of this price range, it could mark a substantial increase of almost 80%, reaching a value of $5.25. This forecast provides potential insights for investors and traders, indicating a potential range of movement for AKT in the coming year, with the upper limit representing a significant growth opportunity. 

Buy Cryptocurrency with Bitget with the CHEAPEST Fees

Bitget stands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started with Bitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.

—> CLICK HERE TO BUY AKT<—