Akon Is Launching his Own Cryptocurrency Called Akoin

To help African business ventures.

Tech
109,667 Hypes 21 Comments

Grammy-nominated musician Akon is launching his own cryptocurrency, which is aptly called Akoin. The Senegalese-born entertainer/entrepreneur announced his new project during a panel at the Cannes Lions Festival, where he explained his motivations of using the blockchain technology towards improving the conditions in Africa.

“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system,” Akon said. “[Cryptocurrency] also allows the people to utilize it in ways where they can advance themselves and not allow the government to do those things that are keeping them down.”

Akon’s Akoin venture will also include a “100 percent crypto-centric city,” called Akon Crypto City, which will be based in a 2,000-acre land supplied by the Senegalese President. The crypto city aims to be a “real-life Wakanda” that will revolutionize daily business and human exchanges. However, when asked about the technical parts of the blockchain technology, Akon kept it real and said, “I come with the concepts and let the geeks figure it out.”

You can learn more about Akon’s new cryptocurrency at the official Akoin website. Share you thoughts in the comments below and for more of Akon’s philanthropic efforts, see how he gave electricity to 16 million Africans via his Light Up Africa project.

Read Full Article
Source
Page Six

What to Read Next

BAPE Drops an Ape Head Balaclava
Fashion

BAPE Drops an Ape Head Balaclava

For that proper Ape look.

Japanese Soccer Fans’ Cleanup Manners Rubbing off on Other Countries at World Cup
Sports

Japanese Soccer Fans’ Cleanup Manners Rubbing off on Other Countries at World Cup

After a monumental victory.

Nike SB Dunk Low TRD Gets a "Wolf Grey" Refresh
Footwear

Nike SB Dunk Low TRD Gets a "Wolf Grey" Refresh

Clean.


Conquer the Rain in Style With Fendi's Headband Umbrella
Fashion

Conquer the Rain in Style With Fendi's Headband Umbrella

Step up your accessory game.

Nike's Air Flightposite 1 Returns in "Legion Green"
Footwear

Nike's Air Flightposite 1 Returns in "Legion Green"

The alternative Foamposite.

DJ Khaled Teases Upcoming Drake Collaboration
Music

DJ Khaled Teases Upcoming Drake Collaboration

June 29.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.