Akon Finally Breaks Ground On His Futuristic $10 Billion Solar Powered “Crypto City”

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by John Vibes, The Mind Unleashed:

Akon has been making significant progress on his development plans in Africa, which involve the creation of a futuristic city that runs on clean energy and cryptocurrency.

The rapper, entrepreneur, and philanthropist Akon has been making significant progress on his development plans in Africa, which involve the creation of a futuristic city that runs on clean energy and cryptocurrency.

In January of last year, Akon revealed that his agreements with Senegal President Macky Sall were going forward, and a few months later it was announced that the engineering and consulting firm KE International was awarded a $6 billion contract to build the city. The company previously said it had already received $4 billion from investors for the first two phases of Akon City’s construction, giving the project a price tag of at least $10 billion.

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The project goes much further than just this one city and it has already begun to make an impact across the continent. In the short time since the deal was finalized last year, a large number of solar street lights, and solar home lighting units, have been installed across 14 African countries, according to Akon Lighting Africa.

The effort was made possible by a private-public partnership model and a well-established network of partners including SOLEKTRA INT, SUMEC, and NARI.

Phase 1 of construction on the city is expected to be completed in 2023, and will include roads, a hospital, residences, hotels, a police station, a waste facility, a school, and a solar power plant. The entire city is expected to be finished around 2029. The city’s economy will be facilitated by Akon’s cryptocurrency “Akoin,” which runs on the Stellar blockchain. Stellar is a crypto ecosystem that includes its own cryptocurrency XLM, and also allows for the development of other projects, such as decentralized exchanges and additional currencies like Akoin. Banks around the world have also been considering using the Stellar blockchain for stablecoin deployment.

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