You may know Akon as Mr. Lonely, but Mr. Money might be more apt. For the past few years, the rapper, who is of Senegalese descent, has been focusing on business ventures that will directly benefit African countries, and his latest is no exception. Akon’s latest business plan is to build a futuristic ‘Crypto City’ in Senegal wherein they will trade in his own digital cash currency, dubbed aKoin. This city will be built on the 2000 acre plot of land gifted to him by Senagalese president, Macky Sall. [Source]
The 100% crypto-based city is within 5 minutes of the new international airport, close to the coast and a short drive from Dakar. Akon’s Crypto City blends leading Smart City planning designs with a blank canvas for cryptonizing daily human and business exchanges, with the goal of inventing a radical new way of existence.
According to the official website, “AKoin is a new cryptocurrency from visionary changemaker Akon and is the foundation of the AKoin Ecosystem — a unique global project that offers an abundance of digital and in-real-life platforms and experiences that create opportunity and inclusion for youth entrepreneurs by allowing consumers to buy, hold, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.” The currency is built to help solve problems of economic instability and lack of opportunities for entrepreneurs. “The AKoin Ecosystem unlocks the potential of the world’s largest emerging economy through the creation of a stable currency and innovative, revenue-generating opportunities that stimulate and support youth entrepreneurship, economic stability, and growth across Africa and the world.”
Akon believes that cryptocurrency is an effective solution for many African problems. During a panel, he said, “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,”
Akon’s other initiatives
Akon, real name Aliaume Damala Badara Akon Thiam, is renowned for his Lighting Africa initiative, which aims to develop an innovative solar-powered solution that will provide African villages with access to a clean and affordable source of electricity.
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