In June 2018, artist Akon talked about his ambitions to build a brand new city in Senegal, powered by his own cryptocurrency, Akoin. At the height of blockchain fever, you’d have been forgiven for thinking the project would probably never happen. Well, it appears to be happening. “Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future,” tweeted Akon this week.
Work on building the city has yet to start, but the Akoin currency has its own website already, explaining its ambitions to be “a trusted cryptocurrency with a vision to stimulate and innovate, revenue-generating opportunities that support and empower youth entrepreneurship, economic stability, and growth across Africa and the world”. The aim is that Akoin will be used throughout Akon City itself, as well as more widely in Africa.