Rapper Akon is spearheading a project to build a city in Senegal that will run entirely on his cryptocurrency.
In Brief:
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A $6bn contract has been awarded to build the city.
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The first phase of Akon City will be completed by the end of 2023.
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It will entirely run on the Akoin cryptocurrency.
What does this mean?
Akon announced he was developing his own cryptocurrency earlier this year. It aims to help entrepreneurs in developing countries. The rapper has previously stated that cryptocurrency has huge potential to help the unbanked and underbanked benefit from financial inclusion.
