Rapper and would-be crypto-mogul, Akon, has finalized an agreement to build a cryptocurrency-powered city in Senegal. The imaginitively named Akon City will have an economy based entirely around the equally imaginitively named, Akoin cryptocurrency.
Akon City Is Go
Akon revealed that the agreement for Akon City had been finalised in a tweet, saying, “Looking forward to hosting you there in the future.”
Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future pic.twitter.com/dsoYpmjnpf
— AKON (@Akon) January 13, 2020
The city will supposedly be the first ever to run on 100% renewable energy, and will be built in phases over the next 10 years.
The 2,000-acre piece of land to be used was gifted to Akon by Senegalese president, Macky Sall, back in 2018. It is reportedly:
within five minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal.
The rapper envisions the city becoming like a real-life Wakanda, the fictional nation at the heart of Marvel’s Black Panther stories, and apparently a trade partner of the U.S.
Pure Akoin Economy
All transactional activity in the city will be carried out in the rapper’s own cryptocurrency, dubbed Akoin.
As Bitcoinist reported, Akon first announced Akoin back in 2018, along with the grand hope that it “could be the saviour of Africa.”
The Akoin ecosystem is still not live, nor does it even have a white paper yet. However, the project roadmap suggests a platform launch and exchange listings to come in the first half of 2020.
But Akoin will not be limited for use in Akon City, with plans for the currency to be used across the African continent and beyond.
Lighting Africa With Solar Power
Akon previously set up the humanitarian foundation, Akon Lighting Africa, which has won recognition from the UN for its work financing solar projects in the continent. The charity currently claims to be working on projects in 25 African nations.
What do you make of the rapper’s latest foray into crypto? Add your thoughts below!
Images via Shutterstock, Twitter @Akon