Rapper Akon shared his plans for a new Akoin crypto network in am exclusive interview with Cointelegraph. Akoin is a cryptocurrency which uses a network for users who want to exchange cryptocurrencies, fiat currencies and prepaid mobile minutes. Africa's economy contains so many currencies and people just don't trust many of them, preferring to use pre-paid mobile minutes.
Akon, whose actual name is Aliaune Thiam, says people use cell phone minutes as currency in Africa. The platform he is building has a feature called Atomic Swap technology, where users can trade their cell phone minutes for fiat currencies and cryptocurrency. Akon is of Senegalese descent and lived in the country as a child, but he was born in St. Louis, Mo.
The Akoin Ecosystem of decentralized applications, or Dapps, is geared toward helping entrepreneurs in tech, solar energy, education, health and other industries. The Akoin Foundation also works to empower entrepreneurs with business incubation and more.
Akion tokens are not an investment, they are meant to use in the Akoin ecosystem. Users can buy other cryptocurrencies so they are for use in the cyrptocurrency world.
The Akoin token will be the futuristic city City's currency. The 2,000 acre eco-tourism, crypto-city in Senegal, Africa is just outside of Dakar. The city is only a few minutes away from Senegal’s new Léopold Sédar Senghor International Airport, making it an ideal place for an eco-tourism destination. Lighting Africa will ensure the city runs entirely on renewable energy. There will be towers, an artificial lake and a mix of commercial and residential property. Senegalese President Macky Sall gifted the land.
In 2019. the Akoin Multi-Currency Wallet was developed. It's in the Dapp Marketplace and it makes it easy for users to cryptocurrencies without high fees and hurdles associated with major exchanges. At Cannes Lions International Festival of Creativity, Akon stated, “I think that blockchain and crypto could be the savior for Africa."