African iGaming industry veteran and author Adeleye Awakan, writes a piece about Akon City and cryptcurrency 

The akoin cryptocurrency was launched in Mwale Medical and Technology City (MMTC) as a pilot to Akon city. The MMTC is a $2 billion metropolis centered around a 5,000 bed medical and technology complex located in Kenya Kakamega county. The Mwale medical and technology (MMTC) would serve as the bedrock for the projected Akon city. The akoin cryptocurrency will serve as a testing ground for the medium of payment in the complex.

The akoin cryptocurrency, launched by the famous singer and philanthropist Akon, has begun trading on a global crypto exchange. As said above, it is being used as a means of payment in Kenya’s tech city as a pilot for Akon City. Although, the Akon $6 billion futuristic towns are being built in Senegal. The 2,000-acre futuristic metropolis would include a luxury resort and casino space, condos, offices, a hospital, a stadium, and an artificial intelligence data center where the resident will pay for everything akoin crypto. The much-anticipated cryptocurrency created by Senegalese-American star will be used as the main currency in Senegal’s $6 billion Akon city.

[Pictured above: Akon speaking at the AIBC Summit 2019] 

However, the akoin cryptocurrency (AKN) is now trading against BTC and USDT on the Bittrex Global crypto exchange on Nov 11. Meanwhile, Julis Mwale, the principal investor of Mwale Medical and Technology City, said in a podcast interview on Blockdown 3.0 that the complex expected to be fully completed by the end of this year, adding, ‘We are going to use exclusively akoin by the end of 2021. He explained that there are currently 35,000 residents and over 2,000 merchants, and that will see the akoin cryptocurrency system implemented for them all; he is confident that by the end of next year, there will be more than 20,000 workers whom will be paid in the akoin cryptocurrency which 1.5 million transactions expected.

‘We are hoping to do an initial 30,000 transactions starting next month ‘Mwale continued residents will be able to swap between the akoin crypto and considerable mobile money, m-pesa, and the US dollar, he detailed After initial 30,000 transactions in 30 days, a credit card will also launch so that merchant that accepts Visa or Mastercard will be able to accept token. The system will then be scaled up to facilitate 1.5 million transactions a month. He elaborated.