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

South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools
South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regul
Kamala Harris closer to running against Trump as 68% of Democrat delegates pledge support
Tom Mitchelhill3 hours agoKamala Harris closer to running against Trump as 68% of Democrat delegates pledge supportUS Vice President Kamala Harris has secured enough backing to clinch the official Democratic Party presid
Report: Fanatics to Sell 60% of Candy Digital Stake Amid Struggling NFT Market
Report: Fanatics to Sell 60% of Candy Digital Stake Amid Struggling NFT Market Fanatics, the retailer specializing in licensed sports merchandise, is divesting 60% of its stake in
Biden signs ‘terrifying’ bill giving US agencies more spying power
Tom Mitchelhill3 hours agoBiden signs ‘terrifying’ bill giving US agencies more spying powerChampions of the controversial bill say it’s essential to counter-terrorism efforts, while critics claim it will wreak hav
Zhiyuan Sun6 hours agoSBF criminal trial moves to closing argumentsBankman-Fried pleaded not guilty to all seven counts of fraud charges related to the collapse of crypto exchange FTX.1463 Total views47 Total sharesListe
Biggest Movers: UNI, BCH Surge by Over 20%, Hitting Multi-Month Highs
Biggest Movers: UNI, BCH Surge by Over 20%, Hitting Multi-Month Highs Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since
Scammers Are Targeting Cryptocurrency Scam Sites to Hijack Their Targeted Audience
Scammers Are Targeting Cryptocurrency Scam Sites to Hijack Their Targeted Audience Cryptocurrency scam sites are being targeted by other scammers to hijack their traffic and their
Bitcoin, Ethereum Technical Analysis: ETH Moves Above $1,800 as BTC Nears $28,000
Bitcoin, Ethereum Technical Analysis: ETH Moves Above $1,800 as BTC Nears $28,000 Ethereum rose above $1,800 for the first time since August, as markets continued to react to the F
David Attlee14 hours agoMarathon shareholders file lawsuit against company’s top managementThe CEO and other top executives are accused of a breach of fiduciary duties, unjust enrichment and wasting corporate assets.12
Who is ‘Mr. 100’? Mysterious Bitcoin whale becomes 14th-biggest BTC holder
Zoltan Vardai8 hours agoWho is ‘Mr. 100’? Mysterious Bitcoin whale becomes 14th-biggest BTC holderThe Bitcoin wallet has added 100 BTC tranches regularly since at least November 2022, when FTX collapsed.3833 Total vi
12 Crypto Firms Authorized to Operate License-Free in Hawaii for Two Years
12 Crypto Firms Authorized to Operate License-Free in Hawaii for Two YearsThe U.S. state of Hawaii has authorized 12 cryptocurrency companies to start operating in the state without
David Attlee4 hours agoSBF claims innocence, contradicts other witnesses: Law DecodedSam Bankman-Fried was the final witness to take the stand after more than three weeks of testimonies in court.771 Total views4 Total sh