Akon City News (March 16, 2020) – CryptoZink recently reported that famed singer, Akon secured government license to start working on his cryptocurrency-backed project.
Today, we learned that a whitepaper has been released for the first time with a roadmap for Akon City and Akoin; the native token supporting the project on the blockchain.
According to the newly published whitepaper,
“Akoin is a cryptocurrency powered by a blockchain based eco-system of tools and services designed for
entrepreneurs in the rising economies of Africa and beyond. [However], Akoin’s mission is to unlock the potential of the world’s largest growing workforce by creating learning, earning, spending, and saving opportunites across Africa and other lean economies.”
Backed 100% by Akoin, Akon City become public in 2018. The appropriated land for the crypto-backed city, situated five minutes away from the international airport in Dakar, Senegal; the country’s main hub. Nonetheless, the main goal of the selected location is to make it convenient for Senegalese and tourists from other countries.
Related: Largest Tokenized Real Estate Deal Completed in Switzerland, Valued at $134M
Moreover, the project chose Stellar blockchain as the main network. However, Akoin token will work with other blockchains and cryptocurrency networks.
The famous R&B singer speculated that the crypto city project may take between 5-10 years to build. However, Akon’s hope, according to CoinTelegraph reports, is to build an Akon City in every country in Africa.
Furthermore, the whitepaper credits Akoin’s multi-blockchain networks capability to Atomic Swap technology. Atomic Swap “enables immediate trade between major cryptocurrencies, our partners’ alternative currencies, and fiat currencies; both on the platform and in the local market.”
We reached out to Akon City team for an estimated cost of the plan via email and waiting for a response.
