The pilot stage roll out will be invite-only and is projected to see over 30, 000 transactions per month taking place using Akoin which can easily be converted into cell phone minutes.
A wider roll out in mid-2021 is expected to see over 35, 000 residents and over 2, 000 merchants using the token with projected transaction volumes of over 1.5 million transactions per month.
In a joint statement, the MMTC founder, Julius Mwale, and Akon, said:
“We believe the platform can make serious headway in bringing millions of people into the formal economy, which is a critical step for economic growth.”
In an effort to bring more education on blockchain, Akon has also partnered with Effect.AI to set up blockchain hubs in Africa, starting with Kenya. As it happens, the first of these physical locations, dubbed Opportunity Hubs, will be located in MMTC.
Speaking to Bitcoin KE, Chris, CEO, Effect.AI, said that these physical locations allow people to:
Gain access to work
Learn and educate
According to Chris, the next Opportunity Hubs after Kenya will be located in Senegal and Uganda.
NB: Look out for the full interview with CEO of Effect.AI dropping soon on Bitcoin KE