Akon, who was born in Senegal is set to lunch a new cryptocurrency called Akoin. At the Cannes Lions International Festival, the superstar said that the coin should be available for sale in two weeks with hopes, it will help the continent.
“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down,” he explained during a panel.
What is even more interesting, yet, is the Akon Crypto City, which essentially represents the Akoin. The President of Senegal gave a 2,000-acre land as a gift to Akon and now the American singer is developing this piece of land through Akoin.
The city will be the first of its kind 100% crypto-based city with Akoin at the center of transactional life. This futuristic city already in development, and will be within 5 minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal.
According to the ICO website, the coin is created to empower youth entrepreneurship and economic inclusion through an exclusive suite of sustainability and growth building crypto-based apps that offer immediate and ongoing new revenue-generating opportunities to stimulate micro-exchanges and financial stability in Africa and beyond.
The platinum-selling rapper, Lighting Africa project brought solar power to millions of people on the continent, let’s see what his coin will do.