A spokesperson for Mwale confirmed Mwale fled the country after a disagreement with government authorities and said his life was in danger. With the Akoin Platform, we can even financially reward entrepreneurs for meeting educational or social impact goals. Our goal is to assist 2 million entrepreneurs in creating 30 million jobs by 2030. Everything they need to build businesses which can address their community’s problems. All the while, those applications will gather data which can be used to improve individual lives and the greater Akoin economy.
Mapping Africa: Akoin & UNL
His hypeman enthusiasm for the cryptocurrency and city’s potential is infectious but, during our interview, he balked at my questions about transaction-per-second limits and profit generation. When he first announced AKoin at Cannes Lions in June, he famously noted that he’d be letting “the geeks” figure out the technical aspects he was asked about. Through the Akoin Utility Token, Multi-Currency Wallet and Marketplace people are able to ‘learn, earn, spend and save’ through their mobile phone as they connect and transact with the digital global economy, offering both stored value and local fiat conversion. Akoin is a cryptocurrency, powered by a marketplace of tools and services to fuel the dreams of entrepreneurs, business owners, and social activists. Akoin helps them connect and engage across the rising economies of Africa and beyond; created by visionary global artist, change-maker, innovator, and humanitarian, Akon.
Market Cap (USD)
On our digital application platform, the Dapp marketplace, users will be able to save money, pay utilities or other users, develop skills on educational applications, apply or hire for jobs, request loans, market goods and services, or create new Dapp marketplace applications. It is committed to bringing a trusted https://forexbitcoin.info/ and interoperable digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services. The proprietary Atomic Swap technology allows users to seamlessly exchange cryptocurrencies, prepaid minutes, and fiat currencies.
AKN = 0.003 USD
Akoin is listed on BitMart with trading starting on September 17, 2021 at 10 AM EDT, enabling users to buy and sell the token, using internationally available deposit options such as PayPal, Paxful, and Apple Pay, and featuring sign-up processes tailored to the unique African business environment. This extends Akoin coverage into an additional 11 African countries with access to buy and sell the Akoin token. For now, while AKoin proves itself, the proposed 2,000 acre utopian Akon Crypto City will remain in the planning phase. Akon says he’s happy they’re taking their time and not rushing it into existence, lest his crypto city become another cautionary tale of businesses and investors left in the lurch. Akoin offers unparalleled access and expansion for global brands and applications seeking an entry point for the market.
Giving Power Back to the People
You can store coins on exchanges after purchase but we recommend using a dedicated wallet for security and long term storage. They are the best choice for those storing a lot of value or planning to hold long term. Buy & sell Akoin (AKN) with fiat currencies (USD, CAD, AUD, EUR, GBP etc) or another coin such as BTC or ETH. The Akoin price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.
We also gather additional information from different sources to ensure we cover all necessary data or events. Ironically, Akon’s lofty promises and lack of concern with the details that make plans like these come to fruition are reminiscent of the politician he’s most vehemently critical of, Donald Trump. On top of his myriad projects in Africa, the artist has floated the idea of challenging the incumbent in 2020. When asked if he would still be able to pursue these political aspirations while AKoin and its crypto city were in their formative years, the singer said it would be hard to ignore the call to serve his home country.
The Akoin digital currency and ecosystem provides token holders with access to a wide range of decentralized apps (DApps) and apps; and tools for entrepreneurs to connect, engage and scale business in regions such as Africa while providing a positive social impact to their communities. The Akoin digital currency and ecosystem provides token holders with access to a wide range of decentralized apps (DApps) and apps; and tools for entrepreneurs to connect, engage and scale business in regions such as Africa while providing a positive social impact to their communities. Akoin is a landmark cryptocurrency led by global artist and social impact leader, Akon. It is committed to bringing a more trusted digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services and the global economy. Africa has over 40+ currencies across 54 countries, each struggling with a level of inflation and instability that makes growing business within the continent and internationally extremely difficult while also creating massive roadblocks for entrepreneurs who want to learn, earn, spend and save.
But in a continent where most transactions are still done in cash, a smartphone and crypto-only economy still feels wildly aspirational, even once all the “geeks” have figured out the nuts and bolts of the tech. Educational and opportunity hubs that empower youth and entrepreneurs with blockchain/AI based knowledge, and mentorship to learn and earn with cutting edge technologies. The first phase of the city — including the construction of roads, residences, a police station, and a school — is expected to be completed in about three years. Within 10 years of the start of construction, the plan is for Akon City to be completed and running exclusively on Akoin. On August 31, Akon, clad in a powder-blue suit and a white face mask, stood next to Senegal’s minister of tourism, Alioune Sarr, as the minister laid the first stone in a ceremony at Akon City’s construction site.
Which allows users to transition between applications within the Dapp marketplace, and in-out of the network itself— all without the use of an exchange as an intermediary. The swap functionality happens internally within a users decentralized wallet, and as thus reduces the fees and time necessary. African critics of the Asian superpower claim that the Chinese government is exploiting Africans for their cheap labor so as to create supply chain infrastructure to export sub-market value natural resources under the auspices of altruistically helping underdeveloped nations. But as a recent Washington Post article pointed out, such fears might be overblown and political posturing masking a much more benign and mutually beneficial relationship. Further to that point, Akon has been hesitant to get into the weeds about AKoin’s hard numbers.
The key players of Akon City also don’t seem to agree on whom exactly the city is being built for. According to Bakri, the city will be open to everyone, from janitors to engineers to Hollywood stars. Martin, KE International’s project manager for Akon City, said 30% of the city’s housing would be affordable to “the lower half of the wage market.” According to the press release, KE International helped secure an initial $4 billion in investment for the city from “leaders in the healthcare and technology infrastructure industries,” including Julius Mwale, the Kenyan technology entrepreneur behind MMTC. One key step in moving plans for Akon City forward was getting the backing of the Senegalese government, which Karas said was a “multiyear process.” Over the course of multiple conversations with Business Insider, Karas reiterated that Akon City has the support of Senegalese President Macky Sall.
New York, NY, Sept. 17, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) Akoin, the digital ecosystem and cryptocurrency developed by global artist and visionary Akon to improve social opportunities and access for African entrepreneurs, is listing on the cryptocurrency exchange BitMart. New York, NY, Sept. 17, (GLOBE NEWSWIRE) — (via Blockchain Wire) Akoin, the digital ecosystem and cryptocurrency developed by global artist and visionary Akon to improve social opportunities and access for African entrepreneurs, is listing on the cryptocurrency exchange BitMart. Proprietary technology allows users to seamlessly exchange cryptocurrencies, prepaid minutes, and fiat currencies. Akon is recognized as one of the most powerful voices across Africa and the Diaspora, named to the Forbes Celebrity 100 & 40 Most Powerful Celebrities in Africa list. Through Akon Lighting Africa, he has already brought solar power to 18 countries in Africa, creating safety, health and well-being for millions of the 600M+ Africans who lack electricity today.
Since retiring from music back in 2010, the St. Louis born and Senegal raised musician has been spending a great deal of his time in Africa, working on bringing 21st century stability and infrastructure to underdeveloped regions. If a website, channel, group, or any entity claims to be a representative of Akoin or the Akoin Foundation but is not found on the list below is not legitimate.
The construction firm, KE International, is based in Los Angeles, and the lead architect is based in Dubai. When asked to name some of the project’s local partnerships, Karas did not provide Business Insider with any specific names or organizations. And Akon is far from the first person to attempt to build a smart city in Africa. “African smart cities” has been a buzzword for the past 10 or 15 years, Mira Slavova, an assistant professor at the University of Warwick who wrote a research paper on smart cities in Africa, told Business Insider.
Akoin offers unparalleled access and expansion for global brands and applications seeking an entry-point to the market; including brand activation campaigns, DApp/App integration, launch and expansion planning, and foundation partnerships. Each DApp/App partner is vetted and integrated by the Akoin team into the marketplace to ensure the highest level of quality partnered service offerings are available within the Akoin marketplace. Africa could indeed be an ideal place to develop smart cities because its booming young population is more likely to adopt the technology, according to a 2016 report by the consulting firm Deloitte. The continent is also home to a growing young population that’s hungry for jobs in cities.
ALA has already been implemented in 15 countries with plans to increase that number to 48 by 2020. Unfortunately, exact figures for the program’s efficacy and reach are in short supply, but the program claims to already have covered 480 communities and erected over 100,000 solar street lamps. Akoin will be the central currency of Akon city, a sustainable and eco-tourism smart city in Senegal, Africa. And while KE International’s Martin stressed that one of project’s major goals was to create jobs for the community, Akon City’s developers have shared few specifics on how they’re involving local entrepreneurs in the creation of the city.
Picture it as, for better or worse, an all-encompassing expansion of America’s gig economy side-hustling that runs entirely on a proprietary currency. The Akoin marketplace aims to be the market leader for DApp-based services in lean economies, with a heavy focus on Africa. Working alongside industry leading technical, business and marketing partners, the Akoin marketplace will support a suite of cutting edge decentralized applications (DApps) to the benefit of entrepreneurs in Africa and globally. Akoin is a Stellar-based cryptocurrency designed to fuel rising entrepreneurs in Africa and beyond.
To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for more updated news and promotions. BitMinutes (BMT) is the first Dapp partner being offered through the Akoin Dapp Marketplace. Through our partnership with BMT, users in Africa are able to move in and out of the Akoin ecosystem via prepaid cellphone minutes, fiat currency, or cryptocurrency.
Akon is also the visionary behind Akon City, a sustainable and eco-tourism smart city in development in Senegal, Africa where Akoin will be the central currency. Akoin, which Akon said could be used with either “a smartphone or a dumb phone,” will allow users to convert their unused prepaid mobile minutes to Akoin. Akoin can also be converted into government-issued currency outside Africa, as well as other established cryptocurrencies like Bitcoin and Ethereum, he said. In terms of what the Akoin utility token offers purchasers, there are multiple different aspects to consider. The Akoin token can be used across all of our platforms, functions and services, representing a central part of the Akoin ecosystem.
- Akoin will be used as a common medium of transfer between Africa’s 54 countries (each with its own volatile currency).
- ⚠Trading cryptocurrencies involves risk, and may not be suitable for all investors.
- On top of his myriad projects in Africa, the artist has floated the idea of challenging the incumbent in 2020.
- Akoin’s global expansion continues in Senegal and throughout the African continent through its growth of the Akoin Wallet and global exchange listings with Bittrex Global and now BitMart.
- The proprietary Atomic Swap technology allows users to seamlessly exchange cryptocurrencies, prepaid minutes, and fiat currencies.
- Akon Tower, on the other hand — the proposed centerpiece of Akon City — would stand at nearly 985 feet, making it the tallest building in Senegal by far.
Whenever a transaction takes place, it’s with Akoin, cementing the token as the main means of transferring value and making purchases across all of the ecosystem’s platforms, functions and services. Partners will need to use the Akoin utility token as the means to pay for their activity, whether it’d be a developer listing a dApp or a global brand looking to create marketing campaigns. In short, Akoin represents the lion share of transactional activity within the entire ecosystem, being the mandatory payment vehicle for a great deal of activities that can be undertaken by users. The Akoin token will allow users to utilize a suite of crypto-based digital services to circumvent the barriers they currently face, ushering in a new wave of tech-enabled entrepreneurs and businesses in Africa. The Akoin platform and trusted currency will leapfrog traditional banking and service platforms to help young entrepreneurs in Africa’s 54 countries overcome challenges of inflation, government regulation and lack of access to world-class business tools and services. Akoin seeks to minimize the barriers to entry for young entrepreneurs and small businesses in Africa, while simultaneously providing access to this demographic to global brands currently struggling to do business in rising economies.
Akon told Business Insider Senegal’s president and minister of tourism have been the main government entities involved in the project so far but that other ministers would come on board later. Business Insider made multiple attempts to reach both the president and the minister of tourism but did not receive a response by the time of publication. The cryptocurrency’s white paper points to a 2019 report that estimated Africa would have 623 million mobile-phone users by 2025 — about half the population. “We started spending some time together. We liked each other … We found out we believe in many of the same things, which is social impact, the power to make the world a better place, the rise of Africa, and rising economies generally.” The 2,000-acre waterfront oasis is being designed to serve as a hub for business and tourism, and the renderings are the stuff of science fiction. Akon City’s official website depicts a futuristic metropolis filled with gleaming twisting skyscrapers and palm trees.
There are plans for residents to be able to use Akoin to pay for the tram, basic utilities, business licenses, and even their taxes. And if Akon has his way, this will be the first of several more Akon-branded smart cities throughout Africa. Akoin, by visionary global artist and philanthropist Akon, aims to unlock the potential of Sub-Saharan Africa, the world’s largest emerging economy, using a revolutionary cryptocurrency banking platform.
And in 2017, Arthur Ntozi, a Ugandan tech entrepreneur, sued Mwale, alleging he failed to repay a $50,000 loan. Previous reports that the president gifted Akon the 2,000-acre plot of land for the city were incorrect, Karas said. Karas said he could not provide documentation verifying the land deal because it was confidential. Paul Martin, KE International’s project manager for Akon City, talked about using advanced tech — blockchain, artificial intelligence, and the like — for job growth.
Imagine being able to track all financial, trade, and social data in your economy. You’d know exactly which social programs are best at helping impoverished individuals transcend into better lives. You could thoroughly track food, water, and electricity waste throughout your community.
Sub-Saharan Africans are mostly under the age of 25 and have 2 cell phones per person on average. ⚠Trading cryptocurrencies involves risk, and may not be suitable for all investors. Cryptocurrency prices can be volatile and unpredictable, and may be influenced by various factors, including market manipulation, regulatory changes, and technological developments. But experts in sustainable development and smart cities, as well as leaders in the local tech scene, agree that Akon should include the community in the development process, rather than wait for the working class to trickle into Akon City after the elite crowd settles in. However, even if Sub-Saharan Africans work diligently on fantastic business ideas, they face a variety of significant obstacles. Collaborating across borders is difficult because territories use 54+ different currencies with varying exchange rates.
Karas said that while he couldn’t yet reveal the other partners in the project, they are made up of “companies and high-net-worth individuals” from around the globe, particularly Africa and the Persian Gulf states. Mwale’s spokesperson told Business Insider his lawyers would litigate any “frivolous judgements/suits within statute of limitation until justice is served.” Karas said Mwale has been “appropriate, professional, and forward-thinking” when it comes to Akon City. In an episode of the “Blockchain Journeys” podcast in March, Karas said they need a huge security team when they go to Africa “because of the number of people that just want to touch him.” “Akon City has been a dream and vision of Akon’s for probably more than a decade,” Karas told Business Insider on a recent phone call.
The Akoin Ecosystem provides token holders with access to a wide range of decentralized apps (DApps) and apps, and tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities. The Akoin Ecosystem will provide token holders with access to a wide range of decentralized apps (dApps) and apps, and tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities. Entrepreneurs in Africa are held back by spiraling inflation, unsupportive government regulation, widespread corruption, and a lack of access to business tools and training. Those conditions are challenging, but it makes Sub-Saharan Africa the perfect place to implement the future of banking. We want to empower Africa with a single uniting currency on a secure platform that tracks economic, trade, and social data to give everyone the potential to securely develop the businesses, and lives, of their dreams. Based on the foundation of blockchain technology, Akoin will create a model economy in pursuit of efficiency.
Your doctors, from border to border, would have timely access to shared crucial information to keep you safe. Our partnership with Mwale Medical and Technology Center establishes Akoin as the central currency and payment processor for this burgeoning tech and medical hub in Kenya, to be used for all daily life activities for individuals, merchants and enterprises through the city. Our DApp partnership with BitMinutes allows for peer-to-peer fxpro forex broker review value transfer to more than 1.2 billion bank and mobile accounts across more than 70 contracted countries, while prepaid airtime top-ups are available to more than 4 billion mobile accounts in approximately 120 countries. Coinlore provides independent cryptocurrency / coin prices calculated by its own algorithm, and other metrics such as markets, volumes, historical prices, charts, coin market caps, blockchain info, API, widgets, and more.
AKoins creators hope the currency will eventually serve as a premiere crypto-crowdfunding platform. Provides a more trusted currency alternative that enables entrepreneurs to build and grow their business. A Grammy-nominated, multi-platinum selling artist, producer, entrepreneur, and philanthropist. “In my research, as far as what I needed in the time that I needed, I could not find one fast enough.” The next day, Akon met with Sall at the Presidential Palace in Dakar to present plans for the city.
Another person familiar with the project, who spoke on condition of anonymity because they weren’t authorized to speak about the finances, told Business Insider the total cost of building Akon City could very well end up being “double” the budgeted $6 billion. Karas, who was previously involved in real-estate-development projects in New York City, acknowledged that many major development projects end up costing more than initially planned. In March 2012, a New York court ordered Mwale and SBA Technologies — alongside another defendant, Fiona Graham — to pay more than $325,000 to two women who sued Mwale and Graham for what they alleged was a fraudulent loan. In 2015, a New York court ordered Mwale to pay more than $209,000 to the former landlord of his Manhattan office after Mwale was accused of failing to pay rent and other bills for nearly a year.
And by 2034, the continent is expected to be home to the largest working-age population — about 1.1 billion people. Many proposed smart-city projects, which are typically defined as developments that use technology to run more efficiently and sustainably, have stalled. Plans for a smart city in South Africa, once hailed as an “African Manhattan,” were thwarted when the city of Johannesburg rejected the proposal because it didn’t include affordable housing.
