Two weeks ago the African-American R&B singer and producer Akon announced he’s launching a new cryptocurrency called “Akoin”.
This new and upcoming currency will serve as the main currency in a yet-to-be build Senegalese city. The president of Senegal gifted Akon with 2000 acres of land, which will be used to launch Africa’s first Crypto City. You can also check out Switzerland and South Korea’s Crypto Cities.
The city will aim to be 100% crypto-centered and Akoin will be the prime cryptocurrency. The coin, while not only being transaction, will also be a key component of the “Akoin Ecosystem”. The city has all the markings of a Smart City and is a revolutionary concept.
Akon wants to inspire Africans to pursue their dreams with innovative technology
The general idea behind it being to enable young Africans from all over the continent to “hold sell and buy cryptocurrency”. This will be done by a wide variety of blockchain-based applications.
The futuristic implications of this project are astronomical and it if it’s successful, it could be the start of a whole wave of Crypto Cities launching over each continent.
This isn’t Akon’s first humanitarian project as back in 2014 he started a company called “Akon Lightning Africa”. The company focused on increasing Africa’s electrical grid and received its funds by a $1 billion credit line. They were successful in installing over 100 000 solar street lamps in over 450 rural communities across 15 African countries.
The actions of Akon as a philanthropist and entrepreneur didn’t go unnoticed by social media. The responses he receives are mixed and range from incredible support to downright calling the Akoin a scam.
Akon did more for Africa in the past 3-5yrs than their on government EVER did lowkey. That’s so wild to me. Media isnt making this as big of a deal than it is but it’s a love. Your actions speaks volumes and is changing the lives of millions. Thank you brother @akon
— ▲❍▼❏ (@MoRuf88) June 26, 2018
— Banana (@Banana) June 20, 2018
The debates around the coin have without a doubt sparked the public interest. Since the project is the first of its kind in Africa, it’s very hard to say how things will roll out.The official launch will give the first clear sign on how are shaping.
The impact could be astronomical or could have the opposite effect and if that’s the case, many people will be skeptical towards Crypto Cities in the future.
Crypto Cities will without a doubt be the cities of the future. With this project, Senegal will either become a warning or a stepping stone for the future.
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Tags:AfricaAkoinAkonBlockchainCrypto CitiesICOInvestmentprojectPump and DumpScamSenegalsmart cityWakanda