Akon said he intends to launch his own cryptocurrency, named Akoin.
Speaking at a festival on Monday, Akon said that cryptocurrencies could save Africa. On Akoin's official website it states that the singer wants the Akoin app to be on all African mobile phones by December 2018. Akon has also said that he plans to build a “crypto city” in Senegal, which he currently calls “real life Wakanda”.
The Akoin page claims that the president of Senegal has donated 2,000 acres to build the city, which will be named after the singer. We believe it will be a short distance from Dakar, the capital of Senegal.
Like Wakanda from Marvel's Black Panther, Akon promises that the city's setting will be futuristic. He refers to it as "the first city based 100% on cryptocurrency, with Akoin at the center of all transactions."
Akoin will once again bring power and security into the hands of people, not banks, Akon says specifically. However, he admits that he does not know all the features of the technology, stating “I think of the idea and leave the technical matters in the hands of the specialists for proper implementation”.
This won't be the singer's first project. He has previously worked on other charitable projects, including Konfidence, a charity that provides health and education to children in need, and Akon Lighting Africa, which currently provides solar power to 18 African countries.
