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Entertainer "Akon" Plans to Build a Cryptocurrency-Based City in Senegal

posted by martyb on Friday June 22 2018, @06:14PM   Printer-friendly
from the Wakanda's-secret-is-ICOnium dept.
Techonomics

takyon writes:

Akon wants to found a 'real-life Wakanda' based around his cryptocurrency AKoin

Platinum-selling performer and philanthropist Akon wants to build his own city in Senegal and launch his own cryptocurrency as the central form of exchange. Speaking on Monday, June 18th, at the Cannes Lions International Festival of Creativity, on a panel titled "Branding Africa: Blockchain, Entrepreneurship and Empowering the Future," the Grammy-nominated singer of "Don't Matter" and "I Wanna Love You" discussed his plans for AKoin, a branded form of cryptocurrency.

According to PageSix's panel report, Akon said blockchain technology and cryptocurrency could be "the savior for Africa in many ways" because of its high security factor. He said the app-based system "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."

An initial information blurb posted by ICO Impact Group lays out a much more ambitious plan: a "100% crypto-based city with AKoin at the center of transactional life," to be built in Senegal. (Akon was born in St. Louis, Missouri but is of Senegalese descent, and he spent significant parts of his childhood in Senegal.) The planned community would be called Akon Crypto City. [...] An extensive website for AKoin describes Akon Crypto City as "a real-life Wakanda," referring to the ultra high-tech fictional nation ruled by King T'Challa, aka the superhero Black Panther, in Marvel's Black Panther movie and comics.

Akon is an American singer, songwriter, businessman, record producer and actor of Senegalese descent.

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  • (Score: 3, Interesting) by frojack on Friday June 22 2018, @07:28PM (1 child)

    by frojack (1554) on Friday June 22 2018, @07:28PM (#696905) Journal

    And I've got as much chance of doing that is this clown. I've even got a Pint Jar labeled Grandiose Schemes where I've collected funding. (Mostly quarters).

    Seriously, why is this story here? Are we trying to help fund his "take the money and run" plan, or warn people off, or demonstrate just just how bat shit crazy people who live for applause really are?

    --
    No, you are mistaken. I've always had this sig.

    • (Score: 2, Interesting) by Anonymous Coward on Saturday June 23 2018, @02:26AM

      by Anonymous Coward on Saturday June 23 2018, @02:26AM (#697083)

      Some actually interesting parts of TFA:

      This futuristic city[,] already in development, beginning with 2,000 acres of land gifted to Akon from the President of Senegal, is within 5 minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal (Akon’s homeland). Akon Crypto City blends leading Smart City planning designs with a blank canvas for cryptonizing our daily human and business exchanges, towards inventing a radical new way of existence.
      [...]

      There are plenty of reasons to be dubious about the plan, including the blithe overuse of "blockchain" as a buzzword and a panacea to all currency problems. Akon's response to technical questions asked at the panel wasn't exactly heartening, either: PageSix reports him as saying, "I come with the concepts and let the geeks figure it out." But it's worth noting that Akon's charity Akon Lighting Africa, which helps arrange financing for solar panels and small-scale lighting projects, is a similarly ambitious project that spread to 17 African nations in its first two years of operation and currently claims operations in 25 countries. The organization has won awards, earned UN recognition, and made news last year by securing a $1 billion credit line from China. A similarly robust set of investments might make Akon Crypto City sound less like a science fictional idea piggybacking on tech fads.

      why is this story here?

      Yeah. Maybe this will be worth mentioning in a year or so when there's a city hall and a dozen actual residents and some actual commerce.

      -- OriginalOwner_ [soylentnews.org]

  • (Score: 1, Informative) by Anonymous Coward on Friday June 22 2018, @08:09PM (4 children)

    by Anonymous Coward on Friday June 22 2018, @08:09PM (#696927)

    Akon might want to talk to this group -- anyone seen any updates?

    SN article-- Well Funded Crypto Utopians Setting up in Puerto Rico
    https://soylentnews.org/article.pl?sid=18/02/06/0219224 [soylentnews.org]
    References NYT article Feb. 2, 2018.

  • (Score: 1, Offtopic) by Gaaark on Friday June 22 2018, @09:00PM (2 children)

    by Gaaark (41) on Friday June 22 2018, @09:00PM (#696962) Journal

    Never heard of this person.

    Moving on.

    --
    --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---

  • (Score: 1) by nitehawk214 on Saturday June 23 2018, @08:53PM

    by nitehawk214 (1304) on Saturday June 23 2018, @08:53PM (#697344)

    We built this city on bu-uull shit.

    --
    "Don't you ever miss the days when you used to be nostalgic?" -Loiosh
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