Cryptocurrency
Coronavirus Has Made Akon’s $6 Billion Crypto-Powered, ‘Real-Life Wakanda’ In Senegal ‘More Necessary’
Coronavirus Has Made Akon’s $6 Billion Crypto-Powered, ‘Real-Life Wakanda’ In Senegal ‘More Necessary’: As Forbes reports, “The coronavirus pandemic has fundamentally changed the way the world works, disrupting the status quo and greatly accelerating emerging trends. Cryptocurrencies, including bitcoin, are being looked to by some high-profile investors in the aftermath of unprecedented government spending this year—designed to offset […]
Coronavirus Has Made Akon’s $6 Billion Crypto-Powered, ‘Real-Life Wakanda’ In Senegal ‘More Necessary’:
As Forbes reports, “The coronavirus pandemic has fundamentally changed the way the world works, disrupting the status quo and greatly accelerating emerging trends.
Cryptocurrencies, including bitcoin, are being looked to by some high-profile investors in the aftermath of unprecedented government spending this year—designed to offset the economic damage wrought by the coronavirus pandemic.
Meanwhile, Grammy-nominated R&B singer Akon is forging ahead with plans for his cryptocurrency-powered Akon City in Senegal, which he has previously branded a ‘real-life Wakanda,’ with the president of Akon’s akoin cryptocurrency, Jon Karas, saying the coronavirus pandemic has made the development of Akon City ‘more necessary.’
‘Akon City and the akoin cryptocurrency are much more necessary now,’ said Karas, speaking over the phone, adding the cryptocurrency will help ‘create better pathways, bank the unbanked, and create better, more sustainable, futures for the people of Senegal.’
Last month, a special envoy to the World Health Organization warned that the world was still at the ‘beginning’ of the pandemic, and, while much of Africa has so far been spared a high Covid-19 mortality rate, the economic and financial impact is taking its toll.
‘Millions of people across Africa are likely to lose their jobs with many potentially forced into extreme poverty due to the coronavirus pandemic,’ said Karas. ‘It’s forcing us to get more creative.’
Plans for both Akon City, a 2,000-acre development 60 miles to the south of Senegal’s capital Dakar that Akon laid the first stone for last month, and the akoin tokens that will power it, were first revealed in 2018. Akon City organizers signed a $6 billion construction contract with U.S. engineering firm KE International in June this year and have said they plan to complete the project by 2030…”