Akon is launching his own cryptocurrency ‘Akoin’ to help African economy

Senegalese-born entertainer/entrepreneur, Akon, who was a panelist at the Cannes Lions Festival, announced his new project which is his motivations of using the blockchain technology towards improving the conditions in Africa.

The Grammy-nominated musician said his own cryptocurrency, which is aptly called Akoin will also include a “100 percent crypto-centric city,” called Akon Crypto City, which will be based in a 2,000-acre land supplied by the Senegalese  President.

“I think that blockchain and crypto 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,” Akon said. “[Cryptocurrency] also allows the people to utilize it in ways where they can advance themselves and not allow the government to do those things that are keeping them down.”

According to him, the crypto city aims to be a “real-life Wakanda” that will revolutionize daily business and human exchanges. However, when asked about the technical parts of the blockchain technology, Akon kept it real and said, “I come with the concepts and let the geeks figure it out.”

When pressed about the technical aspects of Akoin and the crypto-based city, Akon responded: “I come with the concepts and let the geeks figure it out.”  He did, however, have a lot to say about his possible presidential run and the ways in which he would handle Donald Trump and even Kanye West.

“It’s gonna be entertaining, it’s gonna be something worth watching,” he said about a potential debate. “I’m going to go after Trump and Kanye will get offended because he likes Trump and he’s going to go after me. Then I’m going to go after Kanye and then Trump’s going to get offended because he likes Kanye and he’s going to go after me. And the debate stage will be set where it’s all about me. It’s perfect, a masterplan.”