Singer Akon really made it happened. He founded a crypto city, the AKON CITY. In fact, the cryptocurrency was reported to powering it.
Based on Akon’s Twitter feed yesterday, his agreement and Senegal have been finalized. The tweet reads, “Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future.” This post suggests that his own city is officially here.
Furthermore, according to the 2018 CNN article, the singer noted that the said crypto city would be built on a 2,000-acre land, which would be gifted to him by Senegal President Macky Sall.
During that time, a website dedicated to Akon City stated that the location is just five minutes’ drive from the African country’s international airport. Now, it is not 100% clear if that reported land is still the location for his city.
In November 201, Akon stated that his city is actually a long-term undertaking. He said, “It’s a ten-year building block, so we’re doing it in ranges. We started construction in March  and stage two is going to be 2025.”
Will “Akoin” Be the Future of Africa?
According to the Akon City’s website, the crypto “Akoin” will be launching its beta platform soon.
The said beta platform will be the Akoin team’s foundation for their three-part vision in empowering the rising entrepreneurs having a real life and digital tools and services. Besides, they also want to enable a number of brands to open up the power of the rising economy of Africa.
However, it is also good to note that Akon is not the only one who’s a pro-Africa cryptocurrency mogul.
Square and Twitter CEO, Jack Dorsey, views Africa to be a cryptospheric future. Last year, Dorsey pledged to integrate with BTC into Square as well as Twitter, and also attended the BTC meetup that took place Nigeria. “Africa will be defining the future (especially the bitcoin one)!” he said.
But, Where’s the Akoin White Paper?
It’s obvious that Akon City’s proposed crypto is not Ethereum or Bitcoin. The singer is preparing to launch Akoin as his own cryptocurrency.
Back in 2018, during the time when Akon revealed about building his crypto city, Akoin was announced. From the Facebook page of Akon City, a video posted was claiming that “all transaction activity” in the crypto city is through Akoin.
At this stage, people around the crypto space are wondering if where is the white paper of Akoin. So, it’s hard for them to gauge what they are in for.
Meanwhile, the associated site hypes the release of Akoin’s white paper along with the explainer video before February this 2020.
Despite having no white paper released, Akon continues to shop Akoin to many potential investors. The roadmap of his cryptocurrency promotes that the said project had a goal for raising funds through donations and private equity between January and June in 2019.