The one-time Grammy award winner, Akon, has again displayed his commitment and support for the crypto industry, hailing the co-founder of Ripple Jed McCaleb who is also the founder of Stellar. Akon praised Stellar for their support in the development of the Akoin Crypto.
The world-renowned artist who recently re-established his presence in the music industry also promised that the imminent Akoin crypto would help bring financial inclusion and economic development into Africa.
McCaleb, while responding, said it’s exciting to see Akon use Stellar blockchain network drive financial inclusion in Africa.
Great to see @akon's @akoinofficial using #Stellar to drive financial empowerment and inclusion in Africa. Supports @StellarOrg's mission of creating equitable access to the financial system, making markets more open and empowering people. https://t.co/YYCFsBG5qv
— Jed McCaleb (@JedMcCaleb) March 2, 2020
Earlier Akon revealed that he would be launching the Akoin project on Stellar blockchain, claiming that the decision was due to the fact that both projects share the same value.
Akon said they chose stellar because of what the blockchain network is doing in the continent. He added that it was important for them to choose Stellar because the blockchain project is already during great things in Africa, thus, the combination of the two projects would be the best partnership.
— AKON (@Akon) March 2, 2020
Akon is from the francophone West African country Senegal, and the singer is dedicated to creating a better terrain for young entrepreneurs in the country and other African country.
The Akoin token is designed to be compatible with Stellar wallets and interoperable with all fiat and digital currencies the Stellar network supports.
The Akoin project is targeted at the unbanked populations across 54 African countries and other developing world countries. Akoin coin, when launched, would allow people to spend crypto using their smartphones.
“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,” said Akon.
The project is scheduled to go live in 2020.
Akon is also developing great ideas to build the first crypto city in the world, and the singer hopes to use his crypto project to power the city.