Akoin: Impacting the African Economy through the Blockchain

Africa is a land filled with potentials, both human and natural resources. However, these potentials have been stifled by corrupt government practices and poverty. Many African entrepreneurs are beginning to look for different means to cause a change in the region and RnB singer, Akon has found the answer in the blockchain.

Akon (Aliaune Damala Badara Akon Thiam) is an American born Senegalese singer and songwriter. His idea is to utilize the blockchain in creating an environment where young entrepreneurs can flourish in their economies. Therefore, the Akoin ecosystem was launched to focus on creating entrepreneurial empowerment, financial and business tools education, healthcare, and renewable energy in Africa.

Impacting Africa through Electricity

Announced in June 2018, the Akoin aims to create opportunities and inclusion for African youth entrepreneurs. With an internet penetration of 38.9% in Africa, Akoin will allow its users to buy, hold, and spend cryptocurrency right from their smartphone. While internet penetration in the container is still low compared to the rest of the world, Akon is currently solving another issue plaguing the continent-electricity.

In 2015, the RnB singer launched a mega-solar project that aims to provide electricity to about 600 million Africans. The  Akon Lighting Africa project has already provided solar power to 18 countries in Africa, creating power for over 100M of the 600M Africans who live without electricity.

The Akoin Smart City

Aside from providing electricity and launching the Akoin Cryptocurrency, Akon hopes to facilitate a real-life Wakanda city that runs purely on cryptocurrency. As it is, the Akon Crypto City is already in development. The city will be powered by the Akoin and will be built on 2,000 acres of land a gift to Akon from the President of Senegal. The smart city a short drive from Dakar, the capital of Senegal and within 5 minutes of the new international airport.

Akoin’s Token of Appreciation

Akon and his team are working towards achieving the dream of impacting Africa positively through the blockchain. As it is, the Akoin Foundation has developed a Token of Appreciation (TOA) program. The program is aimed at generating not less than $1 Million from investors. The funds will be used to build the Akoin ecosystem. The Token of Appreciation campaign seeks to reward investors 4 Akoin token for every $1 they donate.

Africa Cryptocurrency

Akoin aims to be a game-changer in the African cryptocurrency sphere. The cryptocurrency aims to provide a four-tier solution which would include the Akoin Marketplace, Exchange, the Akoin token, and the Akoin marketing platform for African entrepreneurs. These solutions will work towards creating a stable and decentralized environment for African entrepreneurs to flourish and in return, impact the African economy.