The 45-year-old famous rapper and singer, Akon, has announced the launch of his own cryptocurrency called 'Akoin' at Cannes Lions International Festival of Creativity. This cryptocurrency will be integrated within his 100% crypto-based city in Africa known as Akon Crypto City as reported by Page 6

Akon cited:

“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people, and brings the security back into the currency system, and also allows the people to utilize it in ways where they can advance themselves, and not allow government to do those things that are keeping them down,”

Akon Crypto City is a 2000-acre land gifted to Akon by the President of Senegal. The city is being developed currently and will be having everything a normal city has from residential buildings, stores, parks to schools and universities. Akoin's website calls this city "real-life Wakanda" referring to the city featured in the Black Panther film.

When asked about the development of his cryptocurrency, Akon commented:

"I come with the concepts and let the geeks figure it out.”

Recently the "Smack that" singer has been involved in giving back to his country and as a result of that, Akon has been helping the African communities solving their problems. One such was Electricity shortage problem, for which Akon launched "Akon Lighting Africa" to have this problem addressed.

Akon believes:

“Start your career with what you’re great at… not what you want to do. Build your career then chase your passion,”

Image credits: Akoin.io

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