Akon Launches Cryptocurrency, Plans a 100% Crypto-Based African City
Cryptocurrency is booming with many celebrities getting involved. The latest celeb to launch their own cryptocurrency is Grammy-nominated singer, songwriter and entrepreneur – Akon. He rose
to national attention in 2004 with the release of the hit song “Locked Up” from the platinum album ‘Konvicted’. In addition to music, Akon is also a businessman. He started a project called ‘Akon Lighting Africa’ in 2014 which provides electricity in 15 countries of Africa. He also started a charity for underprivileged children in Africa called Konfidence Foundation.
The 45-year-old singer announced Monday (June 18th) at Cannes Lions International Festival of Creativity that he not only is launching his own cryptocurrency, which he calls “Akoin,” but also will use it in his Akon Crypto City, a 100 percent crypto-based city in Africa. First reported by Page Six, Akon said at Cannes Lions:
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, 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.
Akon, real name Aliaume Damala Badara Akon Thiam, could not get technical with cryptocurrency questions. He responded,
“I come with the concepts and let the geeks figure it out,” alluding to the fact that he is the creative vision behind Akoin and not necessarily hands on.
As we recently reported, Akon is in a $150 million legal battle with former business partner, music executive Devyne Stephens.
Akon’s cryptocurrency, Akoin will be available in two weeks.