Akon to launch his own cryptocurrency, AKoin

The Senegal-born singer is at Cannes Lions launching a new cryptocurrency called AKoin, which will be available for sale in two weeks.

According to the crypto-coin’s 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.”

The singer says it’s not simply a marketing scheme and believes the technology has benefits for those on African soil who have been disadvantaged by political and social circumstances.

“I think that blockchain and crypto could be the saviour 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.”

Evidently, AKoin will become the centre of his new Akon Crypto City, a 2000-acre futuristic city in construction just outside Senegal’s capital Dakar — the land was gifted to Akon from the President of Senegal.

Akon Crypto City is a first-of-its-kind 100% crypto-based city with Akoin at the centre of transactional life. The website goes on to explain that the city blends leading Smart City planning designs with a blank canvas for cryptonising our daily human and business exchanges, towards inventing a radical new way of existence.

Apparently, the rapper is trying to build a real-life Wakanda (the website’s words). But when asked technical questions about the blockchain, Akon replies: “I come up with the concepts and let the geeks figure it out.”