Akon to build new city in Senegal with own cryptocurrency called AKoin

The Grammy-nominated singer revealed his plans at a creative festival in Cannes

Ilana Kaplan
Thursday 21 June 2018 18:30 BST
Rapper Akon unveils plans to create a futuristic city in Senegal centred around his own cryptocurrency.
Rapper Akon unveils plans to create a futuristic city in Senegal centred around his own cryptocurrency.

Rapper Akon has unveiled plans to create a city in Senegal with an economy based around his new cryptocurrency AKoin.

The Missouri-born producer, who is of Senegalese descent, revealed details about the place - called Akon Crypto City - on a panel called Branding Africa: Blockchain, Entrepreneurship and Empowering the Future at the Cannes Lions International Festival of Creativity.

According to Page Six, he told the panel's audience at the creative festival that his proposed cryptocurrency - AKoin - would be "the saviour of Africa in many ways" because of its security benefits.

He says that the system of cryptocurrency "allows the people to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down."

When asked technical questions about the future city, he replied: "I come with the concepts and let the geeks figure it out."

The site for Akon's new crypto coin says that Akon Crypto City is being developed on 2,000 acres of land that the president of Senegal gifted to the musician, adding that it will be "a first of its kind 100 per cent crypto-based city with AKoin at the centre of transactional life."

It's described as a "real-life Wakanda," which refers to the high-tech nation ruled by King T'Challa/Black Panther in Marvel's Black Panther film and comics.

Akon Crypto City is set to be stationed "within five minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal (Akon’s homeland)."

While some might be sceptical of Akon's plans, his charity Akon Lighting Africa, which helps sort financing for solar panels and smaller lighting projects, moved to 17 African countries in its first two years of operation and currently claims it has projects in 25 nations.

Akon Lighting Africa has earned recognition by the UN and has also won awards.

Last year, the organisation secured a $1bn credit line.

The Independent has contacted Akon for a comment, but has not yet received a response.

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