Akon announced last Monday at the Cannes Lions International Festival of Creativity that he is launching his own cryptocurrency which he calls “Akoin” as reported in Coindesk.
The purpose of Akoin is to help the singer’s initiative, which is known as Lightning Africa. This project aims to use renewable energy to improve the living situations in Africa.
In addition to this, he plans to build “a crypto city” on 2,000 acres of land. According to Akoin website, the said land is already in the process of development. The vision is to make it a futuristic city. The same website even refers to it as a real-life “Wakanda” (the advanced city featured in the Black Panther film). Similar to a typical city, it would have all the basic establishments such as residential buildings, parks, stores, schools, etc.
The future “crypto city” is very accessible. It is 5 minutes ride from the new international airport, it is near to the coast, and it takes a short ride from the capital city Senegal which is Akon’s homeland.
During the Cannes Lions 2018 panel interview, Akon said, “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 and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down.”
Regarding the technology details of his “Akoin” cryptocurrency, Akon commented that he comes up with the concepts and he would let the geeks figure it out.
In the recent years, this well-known Senegal-descent singer has shifted his focus on helping out communities in Africa. Among his projects, Lightning Africa was launched last 2014.
When it comes to career and passion, the well-known singer said, “Start your career with what you’re great at… not what you want to do. Build your career then chase your passion.”