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.
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.