Clearly, they are trying to fix their problems with a classic central banking ploy. And as you pointed out, that it will fail.
One of the beautiful ironies I've seen lately, is EcoCoin. This is a cryptocurrency that is backed by the both the UN and the Malaysian government, (oh boy!). But, it's value is tied to provable data about the region. And thus, EcoCoin is buying 1 million acres of rainforest and in part, tying the value of that coin to the health of the environment. It's not a provable case yet. But, I am amazed that any form of government has delved into an area that could eventually bankrupt their supporters, (corporations).
The "light bulb" has appeared above my head when I realized the way to stave off the "take no prisoners, profit above all else, corporation as an entity" negative affects of capitalism is to tie different ecologies, cities, animals, and people to cryptocurrencies.
What this will do is eventually eliminate the planned obsolescence we see in manufactured goods. Once manufacturers realize they can increase the company's value by behaving themselves and considering the value they can bring to the area happens, the tired practice of exploiting third world countries and deploying economic hitmen will become history.
This is because companies manufacturing goods will be tied to the areas they produce these good in. And the money they use to sell these goods will be directly tied to the way in which the people and environment are treated during the manufacturing process. Also, it stands to reason, issuing a profit sharing to the company where the cryptocoin that represents their area is generated would allow for a smooth transition from a Type 0 economy to a Type 1.
When you consider the emergence of 3D printing, the idea of low impact printing centers for goods, in areas with cryptocoin, the idea of a sustainable based ecology comes into play. So hypothetically, the council members who once were easily bribed by a chemical company to put a factory in their area, would now first and foremost consider the value of their cryptocoin. And these factors could drastically change the world.
The Kardashev Scale has been used to describe how advanced civilizations in the galaxy could be. A Type 1 civilization could used all the power hitting their planet from their star to power all their needs.
Knowing we are a Type 0 civilization on that scale, Michio Kaku, described the internet as a Type 1 phone system. With that said, I feel cryptocurrencies are a Type 1 economy. And once people figure out to tie value of health, ecology, and prosperity to the blockchain, the further we will be along the road to creating a true renaissance on Earth.
Sadly, as it stands now, Nhlanhla is still in charge in South Africa. And his methods show his i sin the mindset of fixing the same problems with the same methods that got you in trouble in the first place. This is a legacy mental state that we must evolve from.
Hopefully, we will see the emergence of cryptocoin backed ecology/economy partnerships worldwide similar to what is being attempted with EcoCoin. Granted, I am not a huge fan of the UN. But who knows, maybe they got it right with EcoCoin.
If this is true, this is scary not only for South Africe, but Africa and the world. We are all one. We are all affected. It will take more than a superbowl commercial to solve this issue.