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January 15, 2020 12:02 am

Rapper Akon Created His Own Cryptocurrency City In Senegal Called 'Akon City'

An anonymous reader quotes a report from CNN: It's official, Akon has his own city in Senegal. Known as "Akon City," the rapper and entrepreneur tweeted Monday that he had finalized the agreement for the new city. Akon, who is of Senegalese descent, originally announced plans for the futuristic "Crypto city" in 2018 saying that the city would be built on a 2,000-acre land gifted to him by the President of Senegal, Macky Sall. The new city would also trade exclusively in his own digital cash currency called AKoin, he said. The official website for the city said at the time it would be a five-minute drive from the West African state's new international airport. According to a video posted to the project's Facebook page, "all transactional activity" in Akon City will be conducted using AKoin. "What's worrying is that, at this stage, there doesn't appear to be any white paper for Akon's cryptocurrency, so it's hard to gauge exactly what we're in for," reports The Next Web. "The associated website does however hype the release of a white paper and an 'explainer video' sometime before February this year."

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