Akon says he is planning to release a new cryptocurrency named after himself - called akoin.
Talking at the cannes lions festival on monday, the locked up singer stated he believed cryptocurrency may be "the saviour of africa".
Akoin's respectable internet site says the singer wishes the app "on every mobile telephone" among now and december.
And akon says he's also making plans to construct a "crypto city" in senegal which he calls "a real-existence wakanda".
The akoin websiteimage copyrightakoin
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Akoin's offical internet site information the plans for the new currency
Similar to the fictitious land of wakanda in wonder's black panther, akon guarantees says his metropolis might be a "futuristic surroundings".
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The website says akon has been "proficient" 2,000 acres of land by way of the president of senegal to build the town - which is likewise named after himself.
Akon crypto town will reputedly be "a short power" from dakar, the capital of senegal.
He calls it "the first a hundred% crypto-based totally metropolis with akoin at the centre of transactional existence".
Akonimage copyrightgetty images
Image caption
Akon released his debut album, hassle, in 2004
Underneath the "akoin ecosystem", clients might be in a position to shop for, hold and spend cryptocurrency straight from their smartphones.
"it brings the power again to the humans and brings the safety again into the currency machine," akon defined.
"it also allows the humans to utilise it in methods where they are able to strengthen themselves and now not permit government to do the ones things that are keeping them down."
But, akon admitted he failed to understand all of the technical components of his new assignment.
"i come with the ideas and allow the geeks figure it out," he stated.
What's cryptocurrency?
Cryptocurrency is a digital or digital currency that operates independently from a important financial institution.
It uses cryptography (the conversion of data into an nearly uncrackable code) to comfortable and verify transactions.
This makes it extremely difficult to counterfeit.
The first and likely most well-known cryptocurrency is bitcoin, which turned into created through an unknown character the usage of the call satoshi nakamoto in 2009.
Numerous celebrities have recommended or invested in cryptocurrency, together with katy perry, 50 cent and ashton kutcher.
Akon's others ventures in africa
Akon and ms. Kine gueye thiamimage copyrightgetty images
Photo caption
Akon and ms. Kine gueye thiam based the konfidence foundation in 2007
Akoin is considered one of many projects akon has announced in africa.
At the same time as he became born in missouri, akon is of senegalese descent and spent a whole lot of his formative years there.
In 2007 he co-based the konfidence foundation, a fitness and schooling charity for underprivileged children in west africa and america.
He additionally co-founded the akon lights africa venture in 2014, which akon's website says has delivered sun energy to 18 african countries up to now.
