Akon Launches Cryptocurrency Called AKoin

Senegal-born singer Akon is set to launch a new cryptocurrency called AKoin that will be available for sale in two weeks with hopes it will help further help the continent of Africa.

“I think that blockchain and crypto could be the saviour 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,” he explained during a panel at Cannes Lions.

According to reports, the singer wasn’t ready to go all in on the technical specifics of the currency, noting that “I come with the concepts and let the geeks figure it out.” Meanwhile, the website for the coin states that the singer plans to build a “100% crypto-based city” on 2,000 acres of land gifted to him by the president of Senegal. Wow, he’s going to need a lot more geeks.

Akon’s website says AKoin is a new cryptocurrency from Akon, the global artist and change-maker who founded Akon Lighting Africa (providing scaled solar power solutions throughout Africa), created to empower youth entrepreneurship and economic inclusion through an exclusive suite of sustainability and growth building crypto-based apps that offer immediate and ongoing new revenue-generating opportunities to stimulate micro-exchanges and financial stability in Africa and beyond.