Once recognized as a master of middle school dancefloor bangers, Akon has since shifted his talents away from freak-dancing favorites and into more philanthropic pastures. His latest endeavor? A cryptocurrency called – what else? – “Akoin,” which aims at improving poverty-stricken Africa.
“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 explained at the Cannes Lions festival, as reported by Page Six.
In addition to creating a monetary alternative for African citizens, “Akoin” hopes to create an entire city based on the crypto-centric economy. As explained on the official website, the plan is to create “a real-life Wakanda,” referencing the mythical city from Marvel’s Black Panther, where citizens will enjoy “a never before opportunity for brands, businesses and high-profile individuals to do amazing things in this closed environment.”
Before joining the crypto craze, the American-Senegalese singer had used his clout to propel an initiative directed at bringing sustainable lights to Africa. Akon Lighting Africa helped to fund personal light kits, street lamps, solar power equipment and more to 15 different African countries, which had difficulties lighting some of their rural cities.
As for the cryptocurrency, Akon is just one of countless musicians, celebrities and laypeople to jump on the bandwagon. Some believe blockchain and cryptocurrency will dominate the economy of the future, thus getting in the game early will one day pay off (just look at what happened with 50 Cent). While others simply scratch their heads at the concept.
And despite his enthusiasm for the new crypto initiative, it appears Akon is in the latter camp. When asked about the nitty-gritty of the operation, Page Six reports he responded: “I come with the concepts and let the geeks figure it out.”
Stay tuned for more from “Akoin,” which will reportedly be available for sale in the next two weeks.