Akon Unveils Major Details of $6 Billion Cryptocurrency City: Real-Life Wakanda

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Akon has released detailed plans of Akon City, his $6 billion futuristic cryptocurrency city, which he calls a “real-life Wakanda,” referring to the hit movie Black Panther. There will be seven major districts, and the city will be run on the akoin cryptocurrency.

Akon City’s Details Officially Revealed

Senegalese-American star and philanthropist Akon, whose full name is Aliaune Damala Badara Akon Thiam, unveiled Monday some major details of his planned Akon City. The $6 billion futuristic city in Senegal, Africa, will be run on the akoin cryptocurrency.

The city will be divided into seven major districts: the African culture village district, the offices and residential district, the entertainment district, the health and safety district, the education district, the technology district, and the Senewood district.

The African culture village district will feature a seaside resort and spa encompassing retail stores, a ballroom, a business center, a restaurant area, a night club, a fitness center, and a hotel. There will also be 20 chalets and an open market. The Associated Press reported Monday that a hotel within the city plans to feature rooms decorated for each of the 54 countries of Africa.

The residential and office district will comprise six residential buildings, two office buildings, and four parking structures. Akon City’s website explains that there will be a “smart parking system,” which it describes as a “more efficient, safer, and energetically sustainable” system that includes “e-parking, automated parking system, e-transportation within the city and much more.”

The entertainment district will have a casino, a stadium, a resort building with a hotel, and a sports field. There will also be a mall with a cinema, an entertainment area for kids and adults, and a fashion district. The health and safety district will consist of a general hospital, an outpatient center with a pharmaceutical retail area, laboratories, and a variety of clinics. There will also be a police station and a fire station, which include areas for training, sleeping, and fitness.

The eduction district will have three main buildings to accommodate MIT, Berkeley, Harvard, and Stanford. There will be housing for students and faculty members. The technology district will feature a tech park spanning several buildings while the Senewood district will have the Akon tower, a media tower, and four filming and recording studios that will help develop Senegal’s film industry.

Location of Akon City and Use of Akoin Cryptocurrency

Akon City is located “in the heart of Cadastral de Mbodiene park … within the beautiful landscape of water and surrounding nature,” its website details, adding that the location “is easily accessible to commuting as well as to the general public.” The website further claims:

Akon City will set the standard for all future real estate development in Senegal as a country and region as a whole.

The project was, however, designed by a Dubai-based architect because a suitable one in Africa could not be found fast enough, the Associated Press reported, citing Akon. It is also unclear what percentage of the building materials and construction teams will be sourced locally, the publication noted.

While hopes are high in Mbodiene that the Akon City project will change lives, village chief Michel Diom was quoted as saying: “We have a lot of hope. Many promised us projects, but we saw nothing.” Without providing specific details, Akon also said he’s considering franchising the concept to other countries on the continent, the publication conveyed.

In addition, Akon noted on Monday that the project has secured about one-third of the $6 billion needed. However, KE International, a U.S. based consulting and engineering firm that has been awarded the contract for building and executing Akon City, said in June that it had secured $4 billion from investors for the first and second phases of execution of Akon City.

According to the Associated Press, Akon traveled with government officials on Monday “to the grassy fields in Mbodiene some 100 kilometers (62 miles) outside the capital where construction has yet to begin.” Akon said the construction is set to begin early next year, adding that the first phase of the project alone could take more than three years. He previously said that phase one of Akon City will be completed by 2023 and the entire city, running on the akoin cryptocurrency, will be completed in 2029.

Akoin, a Stellar-based cryptocurrency, will be used in Akon City. The akoin cryptocurrency was created with the aim to be used “as a common medium of transfer between Africa’s 54 countries … Allowing African citizens and entrepreneurs to engage with the digital economy with only a mobile phone,” its website describes.

The akoin cryptocurrency has its own wallet that “allows users to trade amongst partnered cryptocurrencies internally … through a proprietary and private atomic swap technology that makes a direct transfer with all major cryptocurrencies, our partners’ alt currencies possible, without having to go through a major exchange.”

Real-Life Wakanda to Provide Jobs for Africans and Boost Senegal’s Tourism

Akon first announced the idea of Akon City in 2018. He described it as a “real-life Wakanda,” comparing it to the technologically advanced fictional African city in the blockbuster movie “Black Panther.” Sadly, actor Chadwick Boseman, who portrayed Black Panther in Marvel’s popular movie series, died on Saturday.

On Monday, Akon said he hoped his Akon City project would provide much-needed jobs for people in Senegal and “serve as a ‘home back home’ for Black Americans and others facing racial injustices,” the Associated Press also reported. “The system back home treats them unfairly in so many different ways that you can never imagine. And they only go through it because they feel that there is no other way,” Akon shared, elaborating:

So if you’re coming from America or Europe or elsewhere in the diaspora and you feel that you want to visit Africa, we want Senegal to be your first stop.

“Covid-19 has sown doubt everywhere. This means that those who had doubts about the attractiveness of Senegal, and Africa in general must convince themselves that there are men and women who believe in Africa,” the two-time Grammy Award-nominated artist opined.

Born in the U.S. to Senegalese parents, Akon spent much of his childhood in the West African country. He started the Akon Lighting Africa project in 2014 with the aim to provide electricity by solar energy in Africa’s rural areas. Recently, he joined bitcoin entrepreneur Brock Pierce’s presidential campaign as Chief Strategist.

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