Make Way for Akon City Which Is Governed with Its Cryptocurrency Akoin

Make Way for Akon City Which Is Governed with Its Cryptocurrency Akoin

Blockchain News
January 16, 2020 Editor's Desk
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Akon founded his city — Akon City — and akoin cryptocurrency is supposedly set to control it. This is probably real. According to the rap star’s Twitter feed, an agreement between Akon and the country of Senegal has been settled, which means that Akon City is precisely here. According to a CNN article from 2018, Akon wrote
AkoN City

Akon founded his city — Akon City — and akoin cryptocurrency is supposedly set to control it. This is probably real. According to the rap star’s Twitter feed, an agreement between Akon and the country of Senegal has been settled, which means that Akon City is precisely here.

According to a CNN article from 2018, Akon wrote that his city would be developed on a 2,000-acre piece of land that was to be gifted to him by Macky Sall, the president of Senegal.

At the time, the website for Akon‘s city announced that the plot would be just a five-minute drive from Senegal‘s global airport. At this stage, it’s unclear whether that part of the land is still the approved site for Akon City.

The submitted official cryptocurrency of Akon City isn’t Bitcoin or Ethereum. Akon is planning to launch his cryptocurrency, named Akoin.

Akoin was indefinitely declared in 2018, around the same time that Akon announced his ambitious plan to build a “Crypto City.” A video posted to the project‘s Facebook page demands that “all transactional activity” in Akon City will be handled utilizing Akoin.

What’s disturbing is that, at this platform, there doesn’t appear to be any white paper for Akon‘s cryptocurrency, so it’s difficult to assess exactly what we’re in for.

The associated website does, nevertheless, hype the announcement of a white paper and an “explainer video” sometime ere February this year.

However, the lack of a white paper didn’t stop Akon from buying his cryptocurrency to potential investors. Akoin’s roadmap advocates that the project had tried to raise funds through private equity and contributions between January and June last year.

Until we know for certain how Akoins are distributed, as well as how the suggested network will be governed, it’s safer to remain careful in praising this endeavor, though pure Akon’s intentions.

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