Platinum-selling performer has revealed plans to create his own online cryptocurrency.
Using his own named as inspiration, the new currency has been dubbed AKoin.
Speaking at the Cannes Lions International Festival of Creativity's panel titled Branding Africa: Blockchain, Entrepreneurship and Empowering the Future, PageSix’s coverage reported that Akon said cryptocurrency could be 'the saviour for Africa.'
He cited blockchain technology and cryptocurrency's high security factor and lack of governmental involvement could allow people to get ahead.
According to ICO Impact Group, the innovation is:
'A new cryptocurrency from visionary changemaker Akon and is the foundation of the AKoin Ecosystem — a unique global project that offers an abundance of digital and in-real-life platforms and experiences that create opportunity and inclusion for youth entrepreneurs by allowing consumers to buy, hold, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.
There are also plans for a highly ambition project involving the currency – a completely crypto-currency city, based in Senegal.
'Already in development, Akon Crypto City is the first of its kind, 100% crypto-based city with AKoin at the center of transactional life. This futuristic city, built on 2,000 acres of land gifted to Akon from the President of Senegal, is within 5 minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal (Akon’s homeland).
'Akon Crypto City blends leading Smart City planning designs with a blank canvas for cryptonizing our daily human and business exchanges, with the goal of inventing a radical new way of existence.'