Akon Concluded the Contract on His Crypto City in Africa!

3 min reading

A popular singer, Akon, is still working on the "city of cryptocurrencies". The support of the development of young African entrepreneurs is the aim of the project. Here are the effects!

New information on "Crypto City"

The world-famous rapper has been around in the blockchain and cryptocurrency's world for some time now. In October 2019, news about his perform at one of the biggest events organized within the cryptocurrency industry appeared. The said event was a conference on blockchain technology and artificial intelligence organized in Malta, Malta AI & Blockchain Summit. Just like the news informed, Akon appeared on the event as one of the speakers.

On the 13th of January, 2020, the singer announced on his Twitter account that he had just finalized the contract for Akon City in Senegal. It is worth adding that Senegal is the homeland of the celebrity. The project is called "Crypto City". Akon strives to support his native continent in technological development. As a consequence, Senegal is to become a city of cryptocurrencies!

According to the world-renowned rapper's plan, he wants to create an environment allowing the citizens of his country to develop further, without interference from traditional financial structures. As Akon claims, cryptocurrencies are able to strengthen emerging African economies and support the development of a sustainable community as well. Senegalese residents should be able to commune with blockchain and virtual currencies thanks to a special platform that the singer intends to launch soon.

 

LEED certified metropolis

Information about the new Akon's project appeared in the media at the end of June 2018. The world was then flooded with news about the popular rapper issuing his own token called Akoin.

I think that blockchain and crypto could be the savior for Africa in many ways. It brings the power back to the people and brings the security back into the currency system.

- highlighted the celebrity at the time.

It is worth noting that the so-called Akon Crypto City is created on 2,000 acres of Earth, which the singer received from the President of Senegal. It will probably be the first city like that, based 100% on technology and cryptography, with Akoin in the center of the transaction life! What is more, the city seeks to become a leader in energy and spatial design, and thus receive a LEED (Leadership in Energy and Environmental Design) certificate. The program was developed by the American non-profit organization called Green Building Council (USGBC).

During an interview for the Power 106 radio station, the rapper revealed that his project was a long-term venture, which means that it will be expanded in stages. The foundations were laid in March 2019. The whole project will last over 10 years. The second stage will not be introduced until 2025.

 

Akoin and a vision of a better world

As for the celebrity's platform itself, it will soon be launched as a beta version. On the official website of the project, there is an information saying that one of the goals of the Akoin token is the ability to generate income supporting youth entrepreneurship and strengthening economic stability.

According to statistics, the African continent consists of 15% of the world's population. It also has 15% of natural gas reserves, 57% cobalt, 47% diamonds, 49% manganese, 31% phosphorus and 21% gold. In addition, it is an ideal place to use the potential of solar, geothermal and hydroelectric energy. Despite this, Africa still remains the least developed continent in the world. 34 of the 39 poorest countries on the globe are in Africa. Young entrepreneurs face a great number of difficulties in building and developing their own companies.

The new ecosystem strives to combine digital tools with reality which will allow consumers to earn, save and spend cryptocurrencies and at the same time support entrepreneurs and brands. 

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