Grammy award-winning singer and songwriter Akon is all set to launch his own cryptocurrency — and the pun is intended. The cryptocurrency will be called Akoin. And not only is Akon planning to launch the cryptocurrency Akoin, he also aims to build his own Crypto City in Senegal, media reports said. With this Akon joins a range of celebrities who have backed the idea of cryptocurrency as against many who have called it fraud or gamble.
Akon, who is of Senegalese descent, said that this will be a saviour of Africa as it will bring power back into the hands of people. “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,” Page Six quoted him as saying.
Akoin’s official website called it 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. “Consumers will also be able to engage with AKoin in an entirely new way when they visit the real-life Wakanda (East-African country) of Akon Crypto City,” the website said.
Akon Crypto City, a 100% crypto-based city with AKoin at the centre of transactional life is already under development. “This futuristic city, built on 2,000 acres of land gifted to Akon from the President of Senegal,” the website added. Akon became popular after his 2004 release of the first single from his debut album Trouble –Locked Up.