Fun

Akon City: $6 Billion Cryptocurrency City Set to Begin Construction

News Feed - 2020-06-21 01:06:09

Akon City: $6 Billion Cryptocurrency City Set to Begin Construction


Akon City, a “futuristic cryptocurrency themed city” founded by famous singer Akon, is ready to begin construction, with a plan to use the akoin cryptocurrency exclusively. Phase one of Akon City’s construction will include roads, a hospital, a mall, hotels, and a school. There will also be parks, universities, a stadium, and an industrial complex.Akon City Unveils Construction Plans


The $6 billion city in Senegal billed a “futuristic cryptocurrency themed city,” founded by Senegalese-American star and philanthropist Akon, has awarded its building contract to KE International, a U.S.-based engineering firm. Akon City announced earlier this month:Akon City’s phase 1 is expected to complete by end of 2023, and will see the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, residences, hotels, a police station, a school, a waste facility and a solar power plant.


Akon, whose full name is Aliaume Damala Badara Akon Thiam, is a famous singer, songwriter, actor, and record producer. He has sold over 35 million albums worldwide and received 5 Grammy nominations for The Sweet Escape, Bartender, Konvicted, I Wanna Love You, and Smack That.


“Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond,” the project’s website details. According to Thursday’s announcement:Akon City phase 2 will run from 2024 to 2029 and will end with a complete cryptocurrency city running exclusively on akoin cryptocurrency.


For Akon City’s first and second phases of building, KE International has secured $4 billion from investors. Dubai based Bakri & Associates Development Consultants will lead the architectural designs of Akon City under KE International’s guidance.


About Akon City and Akoin Crypto


Akon City will be located near Mbodième, a small coastal village in the west of Senegal, West Africa, less than an hour’s drive south of the new Blaise Diagne International airport in Dakar. Aimed to be a tourist city with a cryptocurrency-based economy, Akon City plans to have parks, universities, schools, a stadium, hotels, and an industrial complex fully completed by 2030. Akon first announced his plan to build Akon City in 2018, stating at the time that he was working with the Senegalese government on the project.


The city plans to exclusively use the akoin cryptocurrency, which has been described as a stablecoin built on the Stellar payment network. The akoin cryptocurrency is also to be used in Mwale Medical and Technology City (MMTC), a green city based in Western Kenya, which KE International is also building. Commenced in 2014, the construction project is 85% done and expected to complete in December this year. Recently, it partnered with the Akoin platform for its blockchain-based digital transactions. Akon hopes his akoin crypto will be used all over Africa where a significant portion of the population remains unbanked but smartphones are widely used.


What do you think about Akon City exclusively using the akoin cryptocurrency? Let us know in the comments section below.Only 3.5 Million Bitcoin Is Traded Worldwide; Majority of BTC Held Long-Term as Digital Gold, Says ChainalysisNEWS | 1 hour agoBitcoin Rises in New Crypto Rankings by Chinese Government-Backed InstituteNEWS | 10 hours agoTags in this storyAkoin, akoin crypto, akoin cryptocurrency, Akon, akon bitcoin, akon city, akon city bitcoin, akon crypto, akon cryptocurrency


Image Credits: Shutterstock, Pixabay, Wiki CommonsUse Bitcoin and Bitcoin Cash to play online casino games here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

Spanish Crypto Exchange Bit2me Won’t Absorb 2gether Customers Due to Internal Discrepancies
Spanish Crypto Exchange Bit2me Won"t Absorb 2gether Customers Due to Internal Discrepancies Bit2me, a Spanish cryptocurrency exchange, announced that the deal it aimed to complete
Best Wallet Low Cap Coin Raises $7.6M as XRP Nears All-Time High and Market Prepares for Bull Run
Look out, here comes XRP! In the wake of the US presidential elections, XRP’s engine began to rev. Now, with the inauguration of President Trump only hours away, XRP is taking off! XRP Rides To Near All-Time High
Facebook’s Zuckerberg Appears to Put Libra Launch Date in Doubt
Facebook CEO Mark Zuckerberg has refused to commit to the planned 2020 launch for the Libra cryptocurrency project. Talking in interview with Nikkei on Thursday, Zuckerberg was a
Bitfinex Doesn’t Have to Compile Documents During Appeal, Judge Says
A New York judge has rejected a New York Attorney General’s office request to have Bitfinex and Tether collect all documents pertaining to an alleged $850 million cover-up and $900 million line of credit.
Elon Musk’s Boring Company to Accept Dogecoin Payments for Rides on Las Vegas Transit System Loop
Elon Musk"s Boring Company to Accept Dogecoin Payments for Rides on Las Vegas Transit System Loop Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as
Bitcoin Price Positioned for More Upside: Can It Keep Climbing?
Este artículo también está disponible en español. Bitcoin price holding gains above the $67,000 resistance zone. BTC is now consolidating and aiming for more gains above
XRP Turnaround Moment? Analyst Says It’s Lift-Off Time
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Leading Auction House Christie’s Listing Bitcoin Art for the First Time
Leading Auction House Christie"s Listing Bitcoin Art for the First TimeThe world’s largest auction house, Christie’s, will be presenting Bitcoin artwork for the first ti
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further DevaluationPressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the
Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions
Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions Authorities in Hong Kong have arrested four people suspected of money laundering a total of $
Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations
Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign
Venom Foundation Is Boosting MENA Crypto Adoption
Venom Foundation Is Boosting MENA Crypto Adoption sponsored Today’s entrepreneurs in the MENA area are regarded as the forerunners in adopting global crypto trends; thus, ent