While Akon may have gone quiet in the music scene, he has been building his fortune behind closed doors. He recently released detailed plans for Akon City, his $6 billion futurist cryptocurrency city, including seven major districts that will all be run using the akoin cryptocurrency. It seems the project is yet to have caught the eye of cryptocurrency exchange list providers, though if it gains traction we could see the industry taking things more seriously. Although this may seem farfetched, the plans are legitimate and the Senegalese-American philanthropist means business. The aim of this project is to provide jobs for Africans and boost Senegal’s tourism industry. Conceptually, the city draws many parallels with Singapore and the architecture of the buildings certainly leads you to believe that’s the direction of the project.
The plan is to have an African culture village district, which will feature a seaside resort, retail stores, a business center, numerous restaurants, a night club, a fitness centre and a hotel to help bolster the tourism of the city. The hotel will be the centrepiece of the district, featuring rooms decorated for each of the 54 countries of Africa. Another district of Akon’s futuristic city is the residential and office district, which will host six residential buildings, two offices, and four parking structures complete with a smart parking system. Everything in the city is geared towards an energy-efficient, digital lifestyle which will set an example to the rest of the continent as to what can be achieved. This may seem ambitious, and possibly implausible, but it’s certainly a step in the right direction for the country.
There will also be an entertainment district, which will boast features like a casino, stadium and sports fields. And finally, there will be the educational district, aiming to accommodate university giants like MIT, Berkeley, Harvard and Stanford. The technology and education districts are the foundations of the overall project, as it aims to bring light to the country and boost Senegal into the foreground across a range of major industries.
The most interesting aspect of the proposed city is to introduce a stellar-based cryptocurrency, which will be used exclusively in Akon City. The akoin was created with the intention of being “a common medium of transfer between Africa’s 54 countries”. This would allow African citizens and aspiring entrepreneurs to work within the digital economy with just a mobile phone. The prevalence of smartphone technology in Africa means this proposal is one with forethought and something that could potentially work. A quote from the plans regarding the cryptocurrency stated that it “allows users to trade amongst partnered cryptocurrencies internally” and “through a proprietary and private atomic swap technology that makes a direct transfer with all major cryptocurrencies, our partners alt currencies possible, without having to go through a major exchange.”
There are very few aspects of Akon City that aren’t exciting. However, the weight of the investment necessary to get things over the line seems a way away yet. But, with the right investors on board, the sky’s the limit.