Aliamume Damala Badara “Akon ” Thiam, the prominent American singer, songwriter, solar energy entrepreneur, and the owner of Blood Diamond Mine will soon be launching his own cryptocurrency, the “Akoin”, for the love and empathy he holds for the people in his native country of Senegal where he wants to bring awareness and amerliorate the conditions of African citizens where he spent his childhood. His love for underprivileged children is not hidden from anybody. He began the Konfidence Foundation in 2007 as a charity to underprivileged children.
According to the ICO impact group , the aim behind building the Akoin ecosystem, which is a “100% crypto-based city”, is to “stimulate and support youth entrepreneurship, economic stability, and growth across Africa and the world.”
“Already in development…this futuristic city, built on 2,000 acres of land gifted to Akon from the President of Senegal, is within 5 minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal [and] (Akon’s homeland).”
“Akon Crypto City blends leading Smart City planning designs with a blank canvas for cryptonizing our daily human and business exchanges, towards inventing a radical new way of existence.”
There is no denying the fact that the advent of “Bitcoin” and the technology behind it, “blockchain,” opened up a new chapter for how the world views and understands currency. The Akoin crypto will also set a new period in which it will perform its role to solve the power issues for the people by setting an example of transparency, trust, and prosperity among people breaking the shackles of traditional government and financial boundation when most are still not confident of cryptocurrencies long term standing.
According to Page Six, Akon, during a panel at the Cannes Lions event shared “I think that blockchain and crypto could be the saviour 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.”
Being the philanthropist and do-gooder entrepreneur with the aim of solving the deep-rooted cause of social injustice,he probably sourced this concept from Coinye West, an alternative currency sparking a lawsuit with Kanye West over trademark infringement. The lawsuit was later discarded within weeks of launching it on exchanges in January 2014. In spite of Akon’s limited and unfamiliar technology, he is confident to bring the massive change in the country with “Akoin” very soon.
Akoin cryptocurrency will be available for sale within the next two weeks Akon acknowledged at Cannes Lion on 19 June 2018.