Akon is continuing to help the continent of Africa by launching a new cryptocurrency called Akoin, which will go on sale in two weeks, according to Page Six. The Senegal born star made the announcement during the 2018 Cannes Lions International Festival of Creativity on June 19.
Akoin will be used to support the singer’s Lighting Africa initiative, a project with a mission to improve Africa’s living conditions through the use of renewable energy.
“I think that blockchain and cryptocurrency could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down,” the “I’m So Paid” singer said during a panel.
The digital currency’s website, icoimpact.co/akoin, states an “Akon Crypto City” is currently being developed on 2,000 acres of land that was “gifted to Akon from the President of Senegal.” The smart city will reportedly function with 100 percent of the transactions occurring through the use of the Akoin.
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Christina Santi is a news and culture writer for EBONY.com. Born and raised in the Bronx, New York, she considers herself a well-read, not so traditional feminist with a heavy interest in music, fashion and pop culture. Christina currently lives in New York City, where she refers to her Cuban & Jamaican descent often while writing about her experiences as a first-generation Afro-Latinx in America. She also devotes time writing personalized reading material for her tutees and turning ideas into words for streetwear brand, PUER By Noel Bronson.