Akon Launches Akoin | Another Celebrity Enters the Crypto Market

Akon launches Akoin: To add to the list of celebrities that have been entering the cryptocurrency market, singer Akon has announced that he has launched his own cryptocurrency called Akoin.

Akon Launches Akoin: Cannes Lions 2018

Akon announced his new coin Akoin at the Cannes Lions 2018 ‘Blockchain, Entrepreneurship and Empowering the Future’ panel on Saturday, June 18th.

Leading up the event, Akon tweeted about his upcoming stint at on the panel.

Cannes Lions, which is said to be “the world’s biggest get-together of people interested in creativity” according to the group’s Twitter, posted a quote from Akon’s panel onto their Twitter:

Akon’s Akoin

The singer’s new cryptocurrency Akoin is meant to help Akon’s Lighting Africa initiative, which works to improve living conditions by providing electricity and solar energy to households in Africa.

During the panel Akon said he “[thinks] 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.”

The Senegal-born singer also plans to create a “crypto city” that would be a “real-life Wakanda” (referring to the fictional African city and home of Marvel’s Black Panther).

The city would be built on the 2,000 acres of land that were gifted to Akon by the President of Senegal and would be “a first of its kind 100% crypto-based city with Akoin at the center of transactional life.”

When asked about the technical side of blockchain, Akon reportedly had this to say:

“I come with the concepts and let the geeks figure it out.”

Social Media Response

People on social media have taken to Akon’s Akoin announcement positively, with one user even calling it “genius.”

What do you think of Akon’s Akoin? Do you think it will be a successful achievement for Akon?

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Featured Image: Twitter

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