Akon to Launch AKoin and Establish a Crypto-City in Senegal

Akon to Launch AKoin and Establish a Crypto-City in Senegal

The world of showbiz is persistently trying to invade the world of cryptocurrencies. Celebrities keep prying into the industry, e.g., rapper Snoop Dogg who had to perform live at Ripple’s event, entertainer Pitbull who promised to invest in a blockchain solution for the sphere of music as well as film-star Steven Seagal who backed up dubious Bitcoiin.

But this time it seems that all of these brave souls have been outperformed by a Senegalese-American singer and producer Akon, who is set to release a novel cyber asset named after him – AKoin.

Akon Wants Wakanda to Be Real

The leadership of South African startup Wala, which facilitates micropayments in several African countries, has recently claimed that blockchain and cryptos may revolutionize this continent. Celebrity Akon, perhaps, decided to bear this in mind. Taking the floor at Cannes Lions Festival this week, according to BBC, Akon has said that he believed that cryptos could be “the savior of Africa.”

But most importantly, the Right Now singer and the businessman has said he intends to launch a new digital coin called AKoin.

Currently, on the official site of Akon’s coin which is yet to be released, it is said that the performer expects the app to be “on every” cell phone between now and the end of the year.

Another Akon’s plan is to set up a crypto-city in his “homeland” Senegal. The latter he refers to “real-life Wakanda.” As it is known, Wakanda is a fictional land, represented in Marvel comics as the most outstanding African nation in the Western part of the continent and a homeland to comic’s superhero Black Panther. So Akon pledges his crypto-city will be that “futuristic environment,” with the help of cryptos, for sure.

Will AKoin Become New Wakanda’s Vibranium?

As per AKoin’s website, Akon has been given out 2,000 acres of land by the Senegalese President to establish the city which will also resemble the singer’s name. According to report, the new crypto-hub won’t be far from the country’s capital Dakar. Akon himself named the new crypto-city the first of its kind with AKoin at its core.

It is already known that in a hub there will be functioning a unique AKoin-based ecosystem. Thanks to it, people will get an opportunity to “hodl” and spend cyber coins directly from their mobile phones.

The singer and producer explained the necessity of AKoin-city creation in its ability to “bring power back to people” as well as to provide a higher level of safety in the sphere of finance. Akon also reiterated what, by the way, lots of crypto-enthusiasts like to repeat. He said that the coin permits people to use it with benefits and “not allow governments” to take the lead.

It is noteworthy that Akon confessed he didn’t know all the technical issues related to the new business.

"I come with the concepts and let the geeks figure it out," said Akon.

Previously, the singer has established other ventures in Africa. For example, in 2007 he became a co-constitutor of a charity for children in the US and West Africa called Konfidence Foundation. Thanks to another Akon’s project Lightning Africa, set off four years ago, solar power provided to nearly 20 countries on the continent.