Akon to launch cryptocurrency called Akoin; announces plans to build a new city in Senegal

FP Staff

Jun 21, 2018 16:55:53 IST

Grammy-winning musician Akon, best known for his tracks 'I Wanna Love You' and 'Smack That', has revealed plans to build a city in Senegal and launch an exclusive cryptocurrency called Akoin, reports The Verge.

 Akon to launch cryptocurrency called Akoin; announces plans to build a new city in Senegal

Akon. Image from Twitter/@xmax6655

Speaking at Cannes Lions International Festival of Creativity, on a panel titled Branding Africa: Blockchain, Entrepreneurship and Empowering the Future, Akon argued in favour of cryptocurrency saying, "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."

Even though Akon was born in Missouri, he is of Senegalese descent and spent much of his childhood in his native country. According to the official website, Akoin will be the cryptocurrency at the foundation of Akoin Ecosystem. The plan outlines a ‘100% crypto-based city with Akoin at the center of transactional life’. According to the website, this futuristic city will be built on 2,000 acres of land that has been gifted to Akon by the President of Senegal. The city is situated within 5 minutes of the new International Airport.

The webpage also has plans for the app and how the digital wallet will appear. It also talks of the futuristic city as ‘real-life Wakanda of Akon Crypto City’ referring to the futuristic African nation featured in the record breaking movie from the Marvel Cinematic Universe, Black Panther.

Akon is also at the helm of Akon Lighting Africa project with Samba Bathily and Thione Niang which aims to electrify Africa using solar energy.

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Updated Date: Jun 21, 2018 16:55:53 IST