Akon the artist is set to release a new cryptocurrency called “Akoin”.
In this video I set out to evaluate the information provided and determine if this project will succeed or fail. This video is only my opinion and not financial advice.
The singer Akon has announced plans for a new cryptocurrency that he hopes will form the base of a radical new city he plans to build in Africa.
Like bitcoin, the “Akoin” cryptocurrency would function outside the realm of governments and traditional financial institutions, meaning it will “bring the power back to the people.”
Said the African American singer, songwriter, businessman, record producer and actor of Senegalese descent. The coin is planned to be used at the heart of a new modern city created by the former rapper.
Akon had prominence in 2004 following the release of “Locked Up”, the first single from his debut album Trouble. He also founded the successful record label, Konvict Muzik
Akon identified the problem that African governments don’t control there own resources, because if they could they could fund every majority development and project. However it became apparent that they can only make promises on what they can control, but resources are still controlled by the West.
In addition to launching this cryptocurrency, Akon wants to build a “100% crypto-based city with “Akoin” at the centre of transactional life. The proposed city will be located outside of Dakar, Senegal as stated on the website. In the process of researching this video, I could find no details on the future Mega City planned for Senegal.
Crypto-Powering Youth Entrepreneurship in Africa
Three team members listed on Akoin.io are
Ryan Scott – CEO
Jon Karas – President
Lynn Liss – COO
More details about the team and the company facilitating the creation of the coin can be found:
In this video I review the teams capability, based on employment history and current employment undertakings. The news of Akon’s cryptocurrency was announced in Cannes