Akoin Chooses Stellar to Power The Currency of Akon City

Senegalese singer, Akon, has received the green light from local government to construct a futuristic city in Uganda, with its own Akoin currency powered by Stellar.

As per a report by NBS Television, Akon is planning to build a futuristic, crypto-based city in Senegal that is going to operate on Akoin. Akoin is a Stellar-based cryptocurrency. In the interview Akon did not state the cost of the project.

I know if I put it there, they’re going to find a way to afford it because it’s going to motivate them

Akon

Akon plans to build malls, schools, police departments, waste management services, hospitals, and other buildings for recreation and culture. This will be done to uplift communities and “bring opportunities” to the people that live within them.

But ultimately when you create an opportunity, people grow with that opportunity, people learn with that opportunity, people are motivated with that opportunity.

Akon

Stellar Blockchain For Economic Inclusion

According to a press release by AkoinOfficial they are aiming to improve Africa’s financial infrastructure and lower costs by removing intermediaries and increasing transparency through the use of blockchain technology. The partnership with Stellar Organization and their Stellar Consensus Protocol can enable Akoin to reach this goal.

The Stellar Development Foundation can support Akoin initiatives through a wide network of charities that accept Stellar Lumens as a form of donation. Also, coupled with its work with Saldo on providing solutions for migrant workers to send funds back to their families, and developments made with IBM Worldwire, to send any currency anywhere in the world using Stellar. These made Stellar a winning choice for Akoin.

Additionally, launching on Stellar means that Akoin can be traded on the Stellar Decentralized Exchange (DEX). By immediately giving users access to several pairs beyond Akoin and XLM, participants are given the ability to explore the cryptocurrency world in ways that the current financial infrastructure limits them.

Akoin wants to remove barriers keeping Africans from participating in the world economy by empowering them with blockchain technology and services.