Singer Akon Launches His Own Cryptocurrency Named 'Akoin', Says Want to Bring Economic Power Back to Africa

Cannes, June 22: Singer Akon is launching his own "AKoin" cryptocurrency in an effort to grow crypto-based apps in Africa to bring economic power back to the continent. Akon, who is of Senegalese descent and has spent years running 'Lighting Africa' -- a project aimed at bringing solar power to African nations -- presented his plan for the digital cash currency at the the Cannes Lions International Festival of Creativity, reports billboard.com.

With the cryptocurrency in place, Akon Crypto City -- a futuristic town being developed in 2,000 acres in Senegal -- would come to life. The city, gifted to Akon by President of Senegal Macky Sall would run entirely on AKoin and be within five minutes of a new international airport.

"I think that blockchain and crypto could be the saviour for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down," said Akon during a panel discussion.

Akon also mentioned running in the US presidential race in 2020 and his thoughts on rapper Kanye West as a candidate.

"I actually really want Kanye to run. I'm going to go after Trump and Kanye will get offended because he likes Trump and he is going to go after me. Then I am going to go after Kanye and then Trump's going to get offended because he likes Kanye and he's going to go after me," he added.

(The above story first appeared on LatestLY on Jun 23, 2018 12:59 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).