[Oni]

With the recent crash of Bitcoin, less people are investing in cryptocurrency. The rapper Akon, known for several 2005-2006 hits, intends to create his own cryptocurrency called AKoin. While it may appear laughable, he's already helped many in Africa obtain lighting that would be otherwise unavailable (via Akon Lighting Africa). He also intends to invest in "a planned city in Senegal where the economy would run entirely on his own cryptocurrency, AKoin." Seems silly, but if it has any results it would be interesting.

At the August 7th launch party for the coin, held in Los Angeles, Akon hosted its developers, financial backers, the press, and a handful of the entrepreneurs selected to play the roll of guinea pigs, testing the coin's viability with their small business ideas.

“This coin is focused specifically on Africa,” Akon told me at the event. “Businesses that could be utilized in Africa, the population that can be using it in Africa, and, more importantly than anything, the entrepreneurs that can be developed and honed in Africa.”

The singer believes that AKoin would best serve nations with currencies destabilized by runaway inflation or corrupt governments, as the public ledger of blockchain guards against malfeasance, and would allow users to “control their own economy and control their own destiny.”

Read More: https://www.vice.com/en_us/article/d3ekx...ency-akoin