Akon Launching “Akoin” Cryptocurrency to help Africa

Posted In Africa - By Tech Joggle on Saturday, June 23rd, 2018 With No Comments »

Senegal-born singer Akon, who is arguably one of the biggest music icon in Africa and worldwide, has announced plans for a new akoin cryptocurrency that he hopes will form the base of a radical new city he plans to build in Africa.

Similar to bitcoin, the akoin cryptocurrency would function outside the realm of governments and traditional financial institutions.

Image: Akon Getty Images

Akon, whose real name is Aliaume Thiam, hopes that the new virtual currency will be at the centre of a “100 per cent crypto-based city” called Akon Crypto City,  a city to be built on “2,000 acres of land gifted to him from the President of Senegal.

“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.

He explained during a Meredith sponsored panel moderated by People deputy editor JD Heyman.

Akon was at Cannes Lion this week to launch the Akoin cryptocurrency, which he says will be available for sale within the next two weeks.

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