SUPERSTAR SINGER AKON TO LAUNCH CRYPTOCURRENCY – AKOIN!
CFA francs? Unfortunately, we don’t take those! (The heart-wrecking statement that led to Akoin)
A few years back, the music icon Akon tried to convert some CFA francs (Senegal’s currency) to euros during a trip from Dakar to Paris; the response he got from an employee at the currency exchange counter in France? “Unfortunately, we don’t take those.” This was confirmed in a recent interview the singer had with Bloomberg news.
A pocketful of CFA francs and nowhere to spend them!
This was the catalyst to Akon’s new cryptocurrency project “Akoin” which is set to be the utility token powering the new futuristic “Akon City”. Akon city is a smart city being built on 2,000 acres of land gifted to the singer by the President of Senegal.
Only 5 minutes away from the new international airport and close to the coast, the new solely crypto-powered city is set to invent a new way of existence.
While a lot of crypto projects have failed in the bid to completely disrupt the fiat system, Akon hopes that his cryptocurrency “AKOIN” will be adopted even across Africa and beyond.
Akoin is likely to launch in early July, according to Jon karas who happens to be the president as well as the co-founder of the Akoin project.
The recent lockdown caused by the Covid-19 outbreak has triggered the need for digital currencies, owing to the number of people that were short of cash and needed to make online purchases for necessities.
“It just goes to show the relevancy of why digital currency is such a futuristic event and how this is the future as we’re moving forward,” said the artist.
“There are going to be digital currencies that will float through the whole universe that allow us to trade in a way that we’re already accustomed to -- but now it’s going to be the norm”- he added
Having invested in Bitcoin in 2014, Akon says he has long been a crypto fan.
While the Senegalese government has allocated land for the Akon city project, it is important to note that the government has no stake in Akoin, and did not provide any sort of funding. This was made clear by Karas.
According to the whitepaper, 10% of the total supply of Akoin will be issued through a public sale, while another 10% will be held by company executives, advisers, and directors.
Akoin is built to be a utility token (meaning one that has a specific use), not an investment tool, Karas said.
The popular Grammy-nominee, producer and entrepreneur Akon is not new to philanthropy, having founded and grown Akon lightening Africa to provide scaled solar power solutions in over 18 countries in Africa.
Over the last few years, lots of cryptocurrencies have been created on hype and weeded out. It’s important to do your due diligence and see what benefits you before making investment decisions.
For more information on the Akoin project, visit akoin.io