Akon Launches "Akoin" Cryptocurrency to Help Africa

CREDIT Ollie Millington  WireImage

Reportedly, he's already started rolling out the project in 18 countries there.

Akon said he plans to develop a city that is completely based on the cryptocurrency, which he says will be called Akoin.

The 45-year-old recently spoke about it at the Cannes Lions International Festival of Creativity and stated that Akoin won't only help bankroll his lighting project, it'll also be available for those on the continent to use on their computers or mobile devices.

Akon, a USA singer and businessman of Senegalese descent, has revealed plans to build a futuristic city in Senegal and base its entire economy on a new cryptocurrency.

"I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system", Akon said.

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Grammy-nominated artist Akon is planning to build a futuristic city in Senegal and base its entire economy around a new cryptocurrency named after himself.

The city will contain residential buildings, retails, parks, stadiums, light manufacturing, universities, and schools, and is built on a 2,000-acre plot of land gifted by the president of Senegal to Akon.

"The website describes the city in glowing terms - as it would - but we have to say it does sound pretty awesome, on all fronts: "[The city is] within five minutes of the new worldwide airport, close to the coast and a short drive from Dakar, the capital city of Senegal (Akon's ancestral homeland).

Aside from being involved in AKoin, the R&B artist said he was thinking of taking on both Donald Trump, and Kanye West for the presidency in 2020. He already has a debate planned and said it's going to be "entertaining" and "something worth watching".

"I'm going to come in with a team so insane, man, it's all going down", added Akon. A big thing. It's not a thing we all understand, but it's a thing.

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