Altcoins

First City with an Economy Based around a Cryptocurrency to Be Founded in Senegal

The first, 100% crypto-based city might be closer than most people would expect. That if rapper Akon’s plans go well and he will be able to build the city of his dreams in Senegal.

The announcement that Akon and a team of “geeks” is planning to launch a cryptocurrency and build a real life city around it came during the Branding Africa: Blockchain, Entrepreneurship and Empowering the Future event at the Cannes Lions International Festival of Creativity. Many long names to remember, but the conclusion is what matters and we’re talking about it below.

Basically, Akon is planning to launch his own cryptocurrency, called AKOIN. According to the information on the website, this altcoin will be the base of “a first of its kind 100 per cent crypto-based city with AKoin at the centre of transactional life.”

The plans are nice and they build up on the recently popular Black Panther movie by calling the upcoming city a “real-life Wakanda”. Even more, Senegal’s Crypto City will be just a few minutes away from a new international airport that’s built in the country, and a short car ride away from Senegal’s capital, Dakar.

The upcoming crypto city in Senegal (which doesn’t have a cheesy name chosen yet) will be built on 2,000 acres of land that the president of Senegal had gifted Akon with. A “city” with a surface of just 8 square kilometeres is by no means huge – quite the opposite – but at least it is a start if things go according to plan.

And if they do, Akon believes that it would be “the saviour of Africa in many ways” as he said during the event in Cannes.

Now going from these plans to actually building a crypto city and making it work is a long way and there are a ton of obstacles along the way. The project itself seems to be in its extremely early stages as we can conclude by checking out the AKOIN official website.

But even if it fails – and there seem to be huge chances of that happening unless it somehow manages to draw in genuine interest from true visionaries and experts – this project alone definitely opens up the door to bigger and better things in the future. Simply having a working concept of a crypto-city, a place where all transactions are exclusively crypto, is truly amazing, even if it’s in Senegal and the “city” itself is on 2,000 acres of land. Baby steps.

What do you think about Akon’s extremely ambitious plans? Would he be able to build his crypto-city based on AKOIN? Would this open up to the door for more and potentially larger cryptos and/or companies to try creating crypto-only cities? Is this the future or not?

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