Cryptocurrencies have the potential to solve at least some of the issues connected with fiat currencies. Famous musician and entrepreneur Akon wants to build in the crypto-based city in Senegal. Moreover, he received billions of dollars from the U.S.-based engineering firm KE International to build the city. This firm secured funding from investors. Let’s have a look at this ambitious project.
Based on the preliminary information, the first phase of the crypto city will include a mall, residences, hotels as well as a solar power plant, etc. Customers will be able to use all services mentioned above by the end of 2023.
Moreover, the second phase will end in 2029. By that time, it is expected to deliver a complete city running on the Akoin cryptocurrency. Cryptocurrency founded by a famous musician and entrepreneur is powered by a blockchain-based ecosystem of tools and services designed for entrepreneurs in Africa and around the world. The cryptocurrency will make life easier for entrepreneurs in the rising economies.
Interestingly, the same engineering firm is also managing the construction of the $2 billion Mwale Medical and Technology city in Western Kenya. Interestingly, the hospital in Kenya will also use Akoin cryptocurrency for transactions.
Akon wants to build a crypto-driven city. He plans to build this city on a 2,000-acre parcel gifted by the Senegalese president.
It is worth noting that, Akon city would become the first Leadership in Energy and Environmental Design (LEED)-certified city in the country. As a reminder, several months ago the Senegalese-American singer signed a “memorandum of understanding” with Senegal’s state-owned tourism department.
As mentioned above, the engineering firm KE International awarded Akon with a $6 billion contract to build a crypto city. Based on the information released by KE International, the firm secured $4 billion from investors for the first two phases of Akon City’s construction.
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