Two months ago, CNWN told the news of a possible plan of Senegalese-American star and philanthropist Akon to build a city for cryptocurrency. Now, it has officially rolled out its first steps.
Termed as Akon City, the place is estimated $6 billion. It is a futuristic city that will work solely on the akoin cryptocurrency.
With the said project, this will give a concrete place for Africans to go above its current high inflation and government corruption.
From this brainchild, Akon sees a more vivid vision of what the city would look like: WAKANDA.
In an interview with TMZ, he said “This movie made an idea of what Africa could be,” Akon was quoted as saying. “It’s just ironic that I was already working on this before the movie came out, but it’s something that helped me a lot when I was trying to explain to explain to people what I was trying to do.”, telling that Wakanda made him secure the project.
A 5,000-bed hospital will be the heart of the city. This is around $1 billion to build,
As well, the first phase of the construction will be the inclusion of homes, hotels, schools, police and fire stations, an airstrip, a mall, a waste facility, a solar power plant, and all the other hallmarks of modern-day cities, among others. Akon plans for the town to be “renewable” with a focus on solar energy.
The Grammy award nominee said, in terms of plan it is 8%% complete with the first phase project to be completed by 2023. Six years more, it will achieve the running of the entire city to akoin cryptocurrency.
The contractor of the projects is awarded to the U.S. engineering firm KE International. It has also mentioned that the company previously said it had already safe kept $4 billion from investors for the first two phases of Akon City’s construction.
The akoin cryptocurrency is the main man of Akon City. It will become the means of payments by allowing for secure exchange among Africa’s 54 countries so that its people and entrepreneurs can engage in the digital economy with only a mobile phone.
Thus, akoin cryptocurrency will also be stored in a wallet.
From its website, it says that the place “allows users to trade amongst partnered cryptocurrencies internally … through a proprietary and private Atomic Swap technology that makes a direct transfer with all major cryptocurrencies, our partners’ alt currencies possible, without having to go through a major exchange,”
The celebrity-singer also added that his intention with the cryptocurrency “could be the saviour for Africa in many ways,”
He narrated his experience when he went back to his home country of Senegal, and he had difficulty in converting West African CFAs into euros. This is his inspiration for creating a cryptocurrency.
For further information, it is also disclosed that there will be internal fiat currencies, conversion system, allowing conversion between cryptocurrencies, and prepaid cell minutes, on top of the “save” feature of the wallet.