Akon is investing big time in cryptocurrency and here’s all you need to know

African-American singer, Akon is channeling a chunk of his fortune into cryptocurrency sector.

Akon’s investment in the world’s cryptocurrency sector is scheduled to berth a unique and new coin, AKoin.

In a report by Memeburn website, AKoin is strategically built by Akon to create benefits for those on African soil, disadvantaged by political and social circumstances.

Confirming his involvement in the cryptocurrency sector at the international festival of creativity dubbed Cannes Lions panel discussion, Akon said: “I think 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.”

All the details about Akon’s Crypto ‘bank’

In a report by a blockchain, crypto advisory group, ICO impact group, AKoin is a new cryptocurrency and the foundation of the AKoin Ecosystem -- a unique global project that offers an abundance of digital and in-real-life platforms.

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The AKoin Ecosystem also offers experiences that create opportunity and inclusion for youth entrepreneurs by allowing consumers to buy, hold, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.

The AKoin Ecosystem unlocks the potential of the world's largest emerging economy through the creation of a stable currency and innovative, revenue-generating opportunities that stimulate and support youth entrepreneurship, economic stability, and growth across Africa and the world.

The cryptocurrency, AKoin, is designed to become the centre of Akon’s Crypto City - a 2000 acre city in construction just outside Senegal’s capital Dakar.

According to the cryptocurrency website, “Akon Crypto City is a first of its kind 100% crypto-based city with AKoin at the center of transactional life.”