The famous hip-hop artist and philanthropist Akon is ready to bring his dream of a futuristic crypto city to reality. The token he is pioneering is called Akoin. When you check out his site Akoin.io you see the words “One Africa On Koin”. And after securing over 4 billion dollars from investors and over 2,000 acres of land in Senegal donated by the government, you can see the support he has in his efforts to unite Africa.
Akon has said “Young entrepreneurs in Africa are facing real hardships in creating and building businesses — problems that have hampered sustained development for too long.” He plans to resolve these struggles with Akoin.
What is Akoin?
Akoin is a Stellar based cryptocurrency that was created to assist entrepreneurs in Africa do business across the 54 countries within the continent. There are over 40 different currencies within those 54 countries. Akoin will allow citizens and entrepreneurs to engage in the digital economy with only a mobile phone, regardless of what their local currency is. Essentially eliminating the issues with inflation, corruption, and instability that currently exist with their current currencies.
Akoin is founded on being embedded into the Akoin city’s ecosystem. Akoin will be the official currency for Akon city. Akon city is a sustainable, eco-tourism smart city being built in Sengal, Africa. Phase one is expected to be complete by the end of 2023. In phase 1 a solar power plant, residential homes, hotels, waste facilities, universities, parks, malls, stadiums, and modern police stations will be constructed. Phase 2 will be all about integrating blockchain technology into the daily lives of residents and business within the city. Truly creating and establishing a smart city. On their site Akoin states their goal is to invent a radical new way of existence. Phase 2 is expected to be completed by 2029. By 2030 their goal is to help 2 million entrepreneurs create 30 million jobs. When all is completed it will be an estimated 6 billion dollar smart city in Africa.
Akon city will have educational hubs that empower and developing blockchain/AI based knowledge within the city.. The site states the Akoin platform will financially reward entrepreneurs for meeting educational or social impact goals. Furthermore, encouraging mentorships in teaching others how to earn with blockchain technology.
Akoin is partnering with Jeev Network to completely revolutionize healthcare in Africa. Akon isn’t stopping at Africa either he will also be working with Jeev to branch out into other developing countries globally. They will be utilizing blockchain to digitalize medical records and establish a chain of custody for testing. With blockchain integrated into the healthcare system, inefficiencies and waste is drastically decreased. Doctors from border to border will have timely access with critical information that can significantly improve health outcomes. Once established, blockchain would be a no cost solution to a lot of developing countries dealing with healthcare issues.
If your not familiar with blockchain technology, check out “What is Blockchain Technology?” where I break down the 3 key elements of Blockchain. With blockchain you can see how efficient smart contracts can be in regards to land ownership, titling, and records management. These are prevailing issues in developing countries. Akoin will use partnerships, blockchain, and other technologies to provide user-friendly, low-cost land admin systems. The site states their goal as promoting economic development. They want all people regardless of financial standings to be included in establishing formal ownership of their property.
Akoin will use a blockchain-based grid to allow users to buy solar energy easily and affordably. By integrating the entire city with blockchain, the city can thoroughly track food, water, and electricity waste throughout your community .
Akoin was created as a utility token, not an investment coin. It really does utilize the blockchain technology within everything.
Akon’s advice on investing in Crypto
Akon gives the best advice, which you will hear many say when it comes to cryptocurrency investing, do your research. He said “Whoever is interested, don’t just move on the hype,” he said. “Do your proper due-diligence, understand who you’re getting into it with, know the market that you want to invest in and have a plan of action as to what suits your benefit.” – Bloomberg
Check out the complete article in Forbes.