- Akon Metropolis has awarded a $6 billion building contract to KE Worldwide, an engineering and consulting agency.
- The crypto-powered metropolis will depend on Akon’s Stellar token, Akoin.
- Different celebrities have additionally develop into concerned in cryptocurrency, although not as publicly as Akon.
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Musical artist Akon has secured a $6 billion contract for a cryptocurrency-powered metropolis in Senegal referred to as Akon Metropolis.
Contract Awarded Immediately
Akon Metropolis has awarded its building contract to KE Worldwide, a U.S-based engineering and consulting agency. The agency now has entry to $four billion to finish Akon Metropolis’s first and second phases of execution. By 2023, a lot of the metropolis’s infrastructure can be constructed. By 2024-2029, the town goals to run completely on the AKOIN cryptocurrency.
Akon Metropolis’s companions embody tourism company SAPCO, crypto funds firm Bitminutes, and blockchain firm Delchain. KE Worldwide has additionally constructed Mwale Medical and Expertise Metropolis (MMTC), an ecocity funded by Kenyan entrepreneur Julius Mwale.
The Akoin Cryptocurrency
Akoin is a stablecoin constructed on the Stellar blockchain. Although it will likely be closely utilized in Akon Metropolis, the venture additionally goals to have the coin used as a medium change throughout 54 African nations and on numerous dApps.
Akoin will even be obtainable by means of an atomic swap, which can permit customers to swap cellphone minutes, cryptocurrency, and fiat forex. Although bold, Akoin has not but attracted a lot consideration since its announcement in 2018. Which will change when Akoin is listed on exchanges later this yr.
Akon isn’t the one superstar with a cryptocurrency. Miss Iowa winner Jessica VerSteeg launched the now-bankrupt hashish coin Paragon in 2017. Rapper Gramatik launched a music fee coin referred to as GRMTK in 2017, which can be defunct.
Different celebrities have additionally develop into concerned in current cryptocurrencies in much less concerned methods. Ashton Kutcher has donated XRP to charity. Mike Tyson has endorsed the “Bitcoin revolution” and is main a blockchain sports activities media venture referred to as “Battle to Fame.” In the meantime, William Shatner has backed a Bitcoin mining agency referred to as Photo voltaic Alliance and is concerned in a number of crypto-related ads.
It’s not clear whether or not Akoin is able to succeed, however its destiny will develop into obvious because it makes progress in the course of the subsequent few years.
Cowl picture courtesy of Oregon State College “Dam Jam” live performance, Might 2019.