Singer Akon given go-ahead to build ‘crypto city’ in Africa | City & Business | Finance

The 46-year-old artist was given permission this week to create Akon City on land that was given to him in 2018 by the President of Senegal – Macky Sall.

Once completed, the independent community will act using the Akoin – a cryptocurrency launched later this year by the singer and philanthropist.

The project is close to the picturesque coastal town of Mbodiene and an hour's drive from Blaise Diagne International Airport. By the time Akon City is complete, Senegal's newest international airport will be officially opened just a ten-minute drive away.

It is clear that the basis for the ambitious schedule has already begun, since the musician strives to have the city fully operational by the end of the decade.

"It's a 10-year building block, so we're doing it in stages," he recently explained at the FM FM radio station in Los Angeles.

"We started construction in March 2019 and phase two will be 2025."

Estimates estimate the cost of building the self-sufficient, environmentally-friendly city at around $ 2 billion.

The singer-entrepreneur – whose real name is Aliaume Thiam – has recently invested heavily in a solar energy company called Akon Lighting Africa, which has started in many communities and provides power to 100,000 households, as well as 13,000 street lighting in 14 African countries.

In addition to cryptocurrency, Akon City will be highly dependent on blockchain – the technology that supports bitcoin and other digital currencies.

At a recent blockchain conference in Malta, the artist pointed to technology as a huge asset to Africa.

"I think that in many ways blockchain and crypto can be the savior for Africa because it brings power back to the people," he said.

"Cryptocurrency and blockchain technology offer a safer currency that allows people in Africa to develop independently of the government."

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