Akoin Cryptocurrency Launched in Kenya to Kick start $6 Billion Akon City

The Akoin cryptocurrency, created by the famous singer and philanthropist Akon, has begun trading on a global crypto exchange. It is also being launched as a means of payment in Kenya’s tech city as a pilot for Akon City. These $6 billion futuristic cities are being built in Senegal.

The 2,000-acre futuristic metropolis would include a luxury resort and casino space, condos, offices, a hospital, a stadium, and an artificial intelligence data center where the resident will pay for everything with his cryptocurrency Akoin. The much-anticipated cryptocurrency created by Senegalese-American star will be used as the primary currency in his $6 billion Akon city in Senegal has launched.

The akoin cryptocurrency (AKN) started trading against BTC and USDT on the Bittrex Global crypto exchange on Nov 11. the akoin cryptocurrency has also launched in Mwale Medical and Technology City (MMTC) as an Akon city pilot. The MMTC is a $2 billion metropolis centered around a 5,000 bed medical and technology complex located in Kenya Kakamega county, its website describes.

Julis Mwale, the principal investor of Mwale Medical and Technology City, said in a podcast interview on Blockdown 3.0 that the complex expected to be fully completed by the end of this year, adding, “We are going to use exclusively akoin by the end of 2021. he explained that there are currently 35,000 residents and over 2,000 merchants, and that will see the akoin cryptocurrency system implemented for them all; he is confident that by the end of next year, there will be more than 20,000 workers whom will be paid in the akoin cryptocurrency which 1.5 million transactions expected. “we are hoping to do an initial 30,000 transactions starting next month “Mwale continued residents will be able to swap between the akoin crypto and large mobile minutes, m-pesa and the US dollar, he detailed After initial 30,000 transactions in 30 days, a credit card will also launch so that merchant that accepts Visa or Mastercard will be able to accept token.

The system will then be scaled up to facilitate 1.5 million transactions a month. He elaborated. That’s 5,000 workers for 1.5 million transactions a month after the initial 30,000.  Mwale claimed that people are very excited about the project because it currently uses m-pesa, which charges transaction fees. He explained that most people in the area do not make a lot of money, so the transaction fee is costly.
In comparison, there will not be any charges or transaction fees within the akoin ecosystem. Mwale emphasized the only expenses will come if you are getting out of the network, so people are very excited; they’re going to save a lot of money.

Akon, whose full name is Aliaune Damala Badara Akon Thiam, is building a futuristic $6billion Akon City in Senegal, which he calls a real-life Wakanda,” referring to Marvel hit Movies Black Panther. In September, the Grammy-nominated artist unveiled details of what will be in Akon city, particularly in Seven significant districts. Mwale explained that akoin would be the exclusive cryptocurrency for Akon city. Adding this is the testing ground for akoin before moving into the Akon city as we start building there next year to turn Africa into a cryptocurrency ecosystem within the next decade. The Kenyan government outlawed cash transactions, and any other transactions other than digital transactions since the Covid-19 outbreak began has been digital.

The launch of akoin crypto launch is the best timing because everybody has to operate in digital commerce. Mwale said it is effortless to transition to akoin from other digital transactions, the m-pesa, and other transactions that we already have.

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Adeleye Awakan

Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa.

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Adeleye Awakan

Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa.