21 Jun 2018
Akon, a grammy winning performer, wants to create a Senegal-based city, and create a cryptocurrency to act as the main currency used in said city. He first spoke about this plan on June 18th, at the Cannes International Festival of Creativity. The coin would be called "Akoin", and it would be utilized to manage the African society to move past various governmental issues that typically plague the continent.
Akon expressed strong belief in blockchain technology delivering freedom and opportunity for the African people to liberate themselves from these limitations imposed by typical African governments. He said it will be a tool that will allow people to move forward, in spite of authorities doing the best to keep everybody down.
The futuristic "Akon Crypto City" is already started, with about 2000 acres of land being available for Akon to build this city. There are significant logistical benefits to this piece of land, as it is going to be very close to the newest Senegalese international airport (5-10 minutes drive) and also relatively close to the capital of Segenal, Dakar.
In addition to the logistical advantages of the city, it is worthwhile mentioning that the city plans to incorporate various smart city technologies, but there is no concrete information regarding the extent and variety of technology that will be implemented as part of this city. We will have to wait and discover how Akon's plans will develop looking forward in the future.
Akon is utilizing the AKoin project to call forward investors and entrepreneurs to get involved in both cryptocurrency and city building. They will be able to invest, open up businesses, and purchase real estate in the developing city.
This is not the first time Akon has created business or charity opportunities in Africa. He is the leader behind "Akon Lightning Africa" a foundation that help pepole with financing for solar and lightning projects. As a charity it is currently active in over 23 countries on the African continent, and as an organization they have received multiple awards, have been recognized by the UN, and they've managed to secure funding from various parts of the world, including China, which invested $1 billion last year.
It is unclear how the city will develop, and there is no information available on the progress made in this city and the Akoin project.