Grammy-nominated Senegalese-American rapper Akon introduced his own cryptocurrency, Akoin, at the Cannes Lions festival in France this Tuesday.
Apart from his stage profile, Akon is spearheading an energy movement in more than 18 countries across Africa with his solar-powered ‘Lighting Africa’ project. Now, he intends to create a new cryptocurrency to bring stability and commerce, growth in Africa, along with new market opportunities to pave the way for future entrepreneurs.
Akoin targets a specific problem of Africa - instability. The project's website explains their motivation as “currency instability and inflation and a lack of banking services are at the heart of the African entrepreneur's dilemma. Challenges in trade and movement of money hamper growth and the need for access to high-quality education and revenue-generating opportunities is massive.”
Akon’s vision is not limited with Akoin, he truly desires to open economical floodgates to carry Africa into the future.
An African Crypto-City is under development on a land gifted to Akon by the President of Senegal, in parallel to Akoin and company website calls it “A Real-life Wakanda”. “Wakanda” is the technologically advanced imaginary city of a Marvel superhero, Black Panther. Thus creating the metaphor for the empowering foundation of a city, between a unique meteor and Akoin.
By Nadya Astam