DURBAN - Global sensation Akon has announced that he will be launching his own cryptocurrency called Akoin.
The rapper who made at the announcement at the Cannes Lion festival also announced his strategy to better the conditions in Africa.
According to Akon, blockchain technology will help improve the conditions in Africa. He said that blockchain technology could be a saviour for Africa because it gives power back to the people and it brings back security into the currency system.
He added that it allows people to use in a way that they can improve themselves and not allow the government to do things that are keeping them down.
The rapper also plans on creating a 100% cryptocentric city called Akon Crypto City. Akon plans on using 2000 acres of land that will be supplied by the President of Senegal to build the city that aims to be like a real-life Wakanda.
Wakanda from the film Black Panther Photo: Facebook
Wakanda is a fictional country from Marvel Comics comic book Black Panther. The city itself is rich in resources and technologically advanced.
On the technical side of blockchain technology, Akon said that he comes with the concepts and lets the geeks sort out the rest.
With the money that he makes from the Akoin, Akon plans using it to fund his Lighting Up Africa project. The project promotes the use of solar power. Akon was born in St. Louis, Missouri in the United States but he spent most of his childhood in Senegal which according to him is his hometown.
- BUSINESS REPORT ONLINE