The construction of the futuristic project, Akon City, in Africa will finally help the country to achieve freedom from the economic crisis and governmental corruption. The city’s development is underway; however, the most interesting fact is that the only recognized currency of Akon City is the all-new cryptocurrency, Akoin.
Sponsored by the Senegalese-American singer and philanthropist, Akon, the smart city resembles Wakanda of the hit Marvel fantasy movie, Black Panther. In his interview with TMZ, the previous week, the superstar revealed that he has been able to secure generous investments from partners and investors with the help of Wakanda. Akon said that the movie has greatly inspired him to work towards Africa’s future and make the country a better place for one and all.
The most significant part of Akon City is the huge hospital of 5000 beds. Akon revealed to the media reporters that the hospital’s construction and development would cost $1 billion. The first phase of the construction of Akon City includes the establishment of residential areas, schools, hotels, a shopping mall, an airstrip, police depots and fire stations, a solar power plant, a waste facility, and other amenities of a modern-day smart city. Akon is also focusing on making the city environment friendly by making solar energy the city’s source of power.
The construction is about 85% complete as of now, and it is expected that the first phase of the city shall be complete by 2023. The entire city will be solely run on the cryptocurrency Akoin. Akon hopes that the construction of Akon City will be over by the year 2029. The engineering firm of the US, KE International Security, awarded the Akon City construction contract of $6 billion to Akon for the construction of the city in Senegal.
Akoin cryptocurrency is the stellar-based digital currency that will be the sole payment method in the futuristic city. Akoin is a common payment mode that comes with its own digital wallet. It enables the users to conduct internal trading in partnered cryptocurrencies through the private and proprietary Atomic Swap technology that allows direct transactions between Akoin and other major cryptocurrencies.
At the virtual conference of Binance, Akon explained that the cryptocurrency Akoin would save Africa from fiscal hurdles like inflation, financial corruption, and governmental mismanagement of funds.