The American-Senegalese, Akon is pressing forward with his colossal ambition to build two crypto-based smart cities. Initially, he first aimed at executing the project at his origin, Senegal. A report reveals that he has expanded his vision as he has named Uganda as the second base for his megacity.
Government Agency Backs the Project
A report from a source revealed that the Minister for Urban Development in Uganda, Isaac Musumba, is dedicated to giving not less than one square mile of land to Akon for the erection of his proposed smart city. This is the second project of a king that the music mogul plans to execute, with the first one at Senegal. The execution of the project is proposed to take a minimum of 15 years to complete.
Two thousand acres (800 hectares) of land had been set aside for the erection of the proposed smart city in Senegal, the first project site. The project, known as Akon city, is fully supported by the government of Senegal. Since its announcement, a sum of $4 billion US dollars has been raised out of the targeted $6 billion, $2 billion to go. It is financially backed by unidentified investors.
The R&B musician, when he announced the first project, expressed that the city would give the citizens of Senegal a lot of opportunities and it would be a safe place for experiencing African-American racism. He also said that the government does not fairly treat this set of people in the US, and they had to endure because they feel stranded. He claimed that with the city erected, whenever you want to come into Africa, you would be compelled to visit Senegal first.
Akoin (AKN), a cryptocurrency owned by the famous musician, is the basis on which the two cities would be run. Akoin is a blockchain-based stock token. Akon aimed at Akoin to be used across the 54 African nations as a means of transaction. He believes that there are possibilities for Africa to be saved by digital currencies.
He claimed that cryptocurrency returns power to the people, and also, the currency system is secured with it. It also enables users to utilize it to improve their lives without the government restricting them from achieving their goals. Hence, he believes blockchain-based assets could be the savior Africa needs.