Akoin to be launch through Stellar

Akon, the Grammy-nominated singer, songwriter and music producer, mostly known for his music career, has recently started focusing more on philanthropy and social entrepreneurship.

The rapper, who is currently masterminding a self-contained city with a cryptocurrency infrastructure in his native Senegal, has cited the network’s track record of assisting entrepreneurs and businesses in developing countries as the leading reason for the decision.

the Akoin utility token will be fully compatible with Stellar wallets and interoperable with all digital assets and fiat currencies supported by Stellar.

The objective of Akoin – and also Akon City – is to provide a trusted currency alternative and empower individuals across the world’s youngest population. It is expected that, by 2040, the African workforce will be the largest in the world.

  

Akon Crypto City is a “100% crypto-based city in Africa,” according to a report by CoinDesk. Akon has previously stated his beliefs that “blockchain and crypto could be the savior for Africa in many ways, because [they bring] the power back to the people.” He added that these tools bring “the security back into the currency system” and allow “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.”