Akon, the pop star who has remained an icon in the music industry, revealed that he had finalized the plans to build his namesake “Akon City”
The singer had first made news about the city back in 2018 when CNN first reported it. Since then the plan has been progressing slowly but steadily, with construction having started in March of last year. The development was quickened for the current week when he was given permission to build on the land given to him by Macky Sall, Senegal’s President.
Akon claimed that the entire ecosystem will be completed following a proposed 10-year plan. This included a stage 2 construction phase that will begin mid-2025. The singer initially talked about the designs to construct such a city along these lines, that it could stay reasonable and add to Africa’s economy He envisioned that using cryptocurrencies and blockchain technology would give the power back to the people.
The Akon City will operate solely using his cryptocurrency, ‘Akoin’
Akoin. Apart from functioning as a mode of currency, the Akoin is also expected to serve as a way to establish credit, borrow money, access government services and much more. The officials close to the development of Akoin had earlier stated the cryptocurrency’s whitepaper would be launched soon. According to the hit churning singer:
“Cryptocurrency and blockchain technology offer a more secure currency that enables people in Africa to advance themselves independent of the government. I come with the concepts and let the geeks figure it out. I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people.”
Akon’s vision for Akoin comprises making the cryptocurrency available in all 54 African countries soon. According to the website run by the organization, Akoin was called the “uniting crypto-currency of Africa” with a promise to “empower Africa”. The singer has also repeatedly talked about how the project will not be a standalone one, but rather something that works through collaboration.
Many celebrities like Akon have delved into crypto for their own causes. In this current instance, it was Africa’s hunger for growth that was reflected in Akon’s vision. This was evidenced when he commented that Akon City would be like the fictional city of Wakanda, portrayed in the Chadwick Boseman starring Black Panther.
Instant crypto credit lines from only 5.9% APR - unlock your crypto-weatlh tax-efficiently, without selling it. Earn up to 8%interest per year on your stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Get started now..
