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Akon Is Set To Begin Building Another Crypto City In Uganda

Akon, the Senegalese-American singer and rapper, is set to begin building another crypto city in Uganda.

It has been reported by Uganda’s flagship television network NBS that the country’s government has announced the allocation of land for the project.

The report said that Akon City in Uganda will occupy one square mile half the size of the City of London.

However, Akon is also building a much larger crypto city in Senegal for $6 billion, with the project covering 2,000 acres or about 3.12 square miles. Both futuristic cities will utilize Akon’s Stellar blockchain-based cryptocurrency Akoin (AKN).

Akon stated:

“I know if I put it there, they are [Ugandans] are going to find a way to afford it because it’s going to motivate them […] Ultimately when you create an opportunity, people learn with that opportunity [and] people are motivated with that opportunity.”  

Likewise, neither Akon nor the Ugandan government provided any information about the estimated cost of the city during the press conference announcing the project. Akon stated that the crypto city will help to attract more investments to the country while also creating employment opportunities for Ugandans. Akon City in Uganda is expected to be completed by 2036.

VIDEO: Akon answers a question on whether Ugandans will be able to afford services in 'Akon City.' Akon is set to build the futuristic city in Uganda by 2036 after the government agreed to allocate him 1 square mile of land. #NBSUpdates — NBS Television (@nbstv) April 5, 2021

As per the report, the Akoin project is also partnering with the $2-billion Mwale medical metropolis in Kenya.

It has been analyzed previously that AKN is set for full deployment within the medical and tech city and will be used for staff salaries, as well as everyday payment transactions.

Akon is set to build a crypto-city in Uganda powered by the Akoin cryptocurrency. — Cointelegraph (@Cointelegraph) April 6, 2021

Thus, the Akoin team also debuted an AKN debit card that allows holders to spend Akoin across 40 million online merchants around the world.

Source: Cointelegraph | Image: Complex | Arch Paper



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