- Akoin a crypto project by Akon, the Senegalese American musician, has launched a project in Kenya.
- The Kenya Akoin will launch in Western Kenya, also known as the Mwale Medical Technology City (MMTC), which is valued at $2 billion.
- The city is a new build that focuses on innovative art, medical and technological developments.
Akoin takes crypto to Kenya
Akoin a crypto project by Akon, the Senegalese American musician, has launched a project in Kenya. The Kenya Akoin will launch in Western Kenya, also known as the Mwale Medical Technology City (MMTC), which is valued at $2 billion.
The city is a new build that focuses on innovative art, medical and technological developments. Cryptocurrency is becoming the official currency of Akon City, which is being developed in Senegal.
The trial round will see people attempting to pay with Akoin and convert the cryptocurrency into exchanges like cell phone minutes. At the start of the project, people will have to be invited, and it is hoped that there will be 30,000 transactions per month using a debit card, merchant services, and atomic swaps.
By next year, the company will be aspiring to serve 35,000 citizens of the city. Akon City residents vary from the Hamptons Hospital workers, which beds 5,000 people and 2,000 merchants.
With time the company is hoping to see 1.5 million transactions per month. The new MMTC coincides with the development which came out today on the Bittrex cryptocurrency exchange, which allows for global trade.
Africa is expected to become a crypto hub. The developments with the organization mark progress towards more usage in Africa and the world.
Julius Mwale, Akon, and MMTC founder said they expect the platform to help millions join a formal economy. The founder also believes that the changes they are making could ensure economic growth.
An Akoin blockchain hub will also exist in the city. The purpose of this is to create opportunities for Kenyans.
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