Akon is an American rapper and R&B singer. His most well-known songs include Lonely, Smack That, I Wanna Love You, and Right Now (Na Na Na). Apart from his musical talent, he is dreaming of creating his own city and currency. The city itself will be called Akon City and will be built on 2000 acres of land in Senegal. The economy is to be largely token-based. The total investment will amount to approximately 6 billion dollars.
It is worth noting that the project promoters have already signed an agreement with the US engineering company KE International for the construction of the city. Up to now, the project’s funding has reached 4 billion dollars! The first construction phase will start in 2021 and will continue until the end of 2023. The whole city is to be created by 2030.
After Akon City is completed in 2030, the city is to offer its inhabitants cryptocurrency and tools based on blockchain technology to carry out day-to-day financial operations.
“We want to work with the government to help it use blockchain technology for all kinds of things that are typical urban infrastructure in terms of import taxes, duties, and trade-related matters”
In addition, a payment scheme for public services is planned:
“You can get on and off the tram and pay with a cryptocurrency card using an infinitely small piece of bitcoin [or altcoin] — he added — “There are many kinds of blockchain applications that will simply make [the city] more futuristic.”
The city itself and the implementation of cryptocurrencies and blockchain technologies are designed to improve Africa’s financial and economic situation. Access to financial tools and services is intended to raise awareness among citizens in this sector.
