It has now been revealed that Grammy-award winning artist and producer Akon, will be launching his Akoin cryptocurrency for Africa on the Stellar blockchain network.
In a tweet, the Akoin Foundation revealed:
“We’re pleased to announce that we’ve partnered with Stellar for Akoin. Stellar will serve as the blockchain which Akoin is built upon, both the token and the wider ecosystem.”
Speaking about the decision, Jon Karas, co-founder and President of Akoin, said:
“Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global financial inclusion, particularly in areas such as Africa.”
Akon, the chairman and co-founder of Akoin, said the decision was made based on their target market, Africa, and its current challenges:
“It’s a global platform that we’re building and Africa is our target market because as we see it now, Africa has the most challenges.”
By using Stellar Anchors, the following benefits will be immediately realized by users:
- Rapid transition between currencies
- Empower users to tap into the global currency
- Break through the restraints that come with being locked into using one specific fiat currency
Akon is a long-time and prominent humanitarian and philanthropist with ‘Lighting Africa’ – an initiative providing solar power solutions throughout 18 countries within Africa – having gotten worldwide appeal.
Akon’s cryptocurrency, Akoin, is expected unlock the massive and largely untapped economic potential within Africa, allowing businesses and entrepreneurs within the region to make their mark on the world.
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