Famed singer Akon knows a thing or two about stability. The ‘Locked Up‘ musician and now crypto entrepreneur told The Breakfast Club during a podcast that cryptocurrency is more stable than fiat currencies (traditional money). Akon stoutly defended the volatility of bitcoin (BTC) price during the interview.
Believe it or not the cryptocurrency is more stable than actual fiat currencies.
You can watch Akon’s full crypto / bitcoin interview here.
The singer make it clear that cryptocurrency is owed and operated by the people, for the people and that they in total control of prices. Akon went on to defend the up-and-down crypto prices and fluctuation by saying it’s due to crypto’s decentralized nature.
He touched on the debate that crypto is backed by thin air. Akon said the only thing backing the United States Dollar (USD) is the powerful military and that the majority of fiat currencies are also backed by nothing.
What they do have is the military. That’s who backs the dollar.
During the interview, Akon also talked about his own African based cryptocurrency project, AKoin. According to him, the goal of his AKoin crypto token is to:
Unlock the potential of the world’s largest emerging economy through the creation of a stable currency and innovative, revenue-generating opportunities that stimulate and support youth entrepreneurship, economic stability, and growth across Africa and the world.
What do you make of Akon’s claims and his crypto project, AKoin?
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.