Akon Finalizes Agreement to Build ‘Akon City’ to be Run Entirely on Akoin

  • Singer Akon is creating a crypto city called “Akon City” in Senegal
  • Akon says he’d finalized an agreement for the city

Singer Akon has officially announced that the paperwork has been signed to launch Akon City in the West African country.

On Monday, the singer took to Twitter to announce that he had finalized an agreement to build a 2,000-acre “Akon City” in Senegal. This he said will be like a “real-life Wakanda,” a reference to the futuristic African country from the 2018 film “Black Panther.”

Akon City which will be a short drive from an international airport is expected to be the country’s first Leadership in Energy and Environmental Design (LEED) city.

Born in Africa, Akon shared in March last year that the city will be built in a series of phases spanning 10 years. It will also be the first city to ever run on completely renewable energy, he said in November.

Blockchain to Play a Key Role in the Growth of Africa

Akon first announced his plans for a crypto city at the Cannes Lions festival in 2018. The singer who spent his early years in Senegal before moving to New Jersey said he believes blockchain technology can play a key role in the growth of Africa. Akon said:

“I think that blockchain and crypto could be the saviour for Africa in many ways because it brings the power back to the people.”

“Cryptocurrency and blockchain technology offer a more secure currency that enables people in Africa to advance themselves independent of the government.”

The singer won’t be developing the technology himself, obviously but will “let the geeks figure it out,” while he comes up with the “concepts.”

Akoin to Empower Africa

The city will run entirely on Akoin. It, however, won't be just a currency but also a way to borrow money, establish credit, access government services and much more. Described as a “uniting crypto-currency for Africa,” Akcoin will be eventually available in all 54 African countries.

As per the website, the whitepaper of Akoin and the digital wallet should go live by February this year. The rest of 2020 will include finding partners, expand the Akoin, and develop the crypto city designs.

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