Akon, the Senegal- American singer has signed an agreement with the government of Senegal to build a cryptocurrency based economy city named Akon city. The agreement was finalized on the 17th of January of 2020.The singer initially announced plans to create a city in the west African country, which will use his own cryptocurrency called the Akoin for currency, at the Cannes Lions advertising festival in 2018.
In reference to the statement released in 2018, the Akon city will be built on the land that was given to Akon by Macky Sall, the president of senegal. The three square miles of land, near the country’s capital is located “ within five minute “of the Blaise Diagne International Airport.
Presently in development, Akon Crypto City is the first of its kind, 100 percent crypto-based city with Akoin at the center of transactional life. Akon said that he hoped that the city would be the first of many that uses cryptocurrency – a digital currency based on blockchain, which is a set of digital records that track transactions chronologically and publicly.
The Singer said “If it works, we will scale it out to all the other countries in Africa so all the cities are connected. It’s going to be a 50- to 100-year project, most likely. I probably won’t even live to see it finished. But for the project in Senegal, we have a 10-year deadline for that city to be built out.”
Before Akon City, Akon was behind a project known as Akon Lighting Africa, with the goal of providing the means to harness and utilize solar power to various African nations. Solar power will also be a defining feature of Akon City, described in a recent Travel and Leisure story as an “eco-tourism destination” that will be run completely by solar power and other forms of renewable energy.