Famous African-American rapper, Akon has always been in the limelight for improving the conditions of Africa. Back in 2014, he started a project called “Akon Lighting Africa”. The project brought electricity to millions of people in Africa.
In this year’s Cannes Music Festival, Akon announced that he is planning to launch a cryptocurrency which would prove to be “the saviour of Africa”. The cryptocurrency is named after himself, AKoin.
The official website of the altcoin says that the singer wants to have the mobile app of the AKoin crypto “on every mobile phone”, and wants to build a crypto city in Senegal. He refers to that city as “a real-life Wakanda”.
Akon has promised that the city built upon the 2000 acres of land, given to him by the President of Senegal, will have a futuristic environment, just like the fictional city of Wakanda in Marvel’s Black Panther.
He also aims to call the city to be “the first 100% crypto-based city with AKoin at the centre of transactional life”.
The circulation of AKoin will make sure that it will give the power back to people and can be utilised in many other ways where the public can advance themselves. The holders of the currency i.e., the ultimate consumers, will be able to do transactions (buy, hold, and spend) with their smartphones. Akon also added that he is not fully aware of the technical advancements of this venture.
This has not been the first project where Akon has proved to be a proud citizen. Around 11 years ago, Akon co-founded the Konfidence Foundation, a charity of health and education for the underprivileged children residing in the US and West Africa. He also co-founded the aforementioned project, “Akon Lighting Africa” in 2104. This initiative has brought electricity to 18 African countries so far.