Akoin comes to complete the city project that the rapper plans for Senegal.
The cryptocurrency will be piloted in Mwale, Kenya.
Last November 11 cryptocurrency Akoin (AKN) launched, the token that singer and philanthropist Akon has created to be used in Akon City, the $ 6 billion futuristic city being built in Senegal.
The launch of Akoin (AKN) It was given through the Bittrex Global exchange house to be able to be exchanged. It will be the only way to pay in the city that the artist of African origin is building as a similar one to the fictional Wakanda, from the movie “The Black Panther” of the Marvel universe, as we have commented here in CriptoNoticias.
Akon City it is a futuristic vision of what African cities should be. Homonymous to the Senegalese artist, it is a city that is friendly to the environment and powered by solar energy and cryptocurrency. It is built on some 80 hectares of land about 100 km from Dakar and promises to be ready in 10 years. The city is an ideal vision of what the urban future should look like for Africa, both for tourism and a place where many of the exiled people can re-settle.
The Akoin is already being used in the Kenyan town of Mwale Medical and Technology City (MMTC). This $ 2 billion complex has a metropolitan center with around 5,000 beds, and is part of a Kenyan medical and technology complex called Kakamega County. The city’s main investor, Julius Mwale, added:
“We will exclusively use Akoin (AKN) by the end of 2021.”
The investor explained that Mwale Medical and Technology City currently has about 35,000 residents, including about 2,000 merchants. By the end of next year it will include 20,000 workers, who will estimate 1.5 million cryptocurrency transactions each month. Currencies can be exchanged between M-passes and USD without commissions, which allows people to save a lot of money in commissions.
“We expect to do about 30,000 transactions next month.” He added, “This is the test site for akoin before rolling out to Akon City, where we begin building next year to transform Africa into a cryptocurrency ecosystem within the next decade.”
Julius Mwale, the city’s main investor.
Artist and philanthropist Akon has said that he has more confidence in cryptocurrencies than the dollar, as the value of cryptocurrencies is based on how people use them in transactions. This, in his opinion, makes them more reliable than the dollar whose value is backed by the military rather than the gold reserves, he says.
“Believe it or not, cryptocurrencies are more stable than fiat currencies, such as the dollar, because they are controlled by people.”
Akon, artist and philanthropist.