Akoin
Akon launches Akoin. This cryptocurrency is being promoted by Akon. Unknown is the level of technical involvement Akon has in this process but the goal in my opinion is noble.
Cryptocurrency in Africa
Crypto has been growing in popularity in Africa as a whole for a while but certain countries are more quick to adopt it than others. Senegal is where Akon claims to have grown up according to Wikipedia but Wikipedia also says he was born in the United States. The idea to build a futuristic city around crypto is interesting but hopefully Akon knows there is more to crypto than currency. The blockchain goes far beyond cryptocurrency and Steemit is a good example of these possibilities.
As far as I know this is one of the first public initiatives involving cryptocurrency and Senegal. If anyone happens to know more about other initiatives in Africa or in Senegal let me know.
Crypto could help poor countries big time!
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He’s done quite well with his solar initiative in Africa, so should be interesting to see his success expand with this...
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This is in my opinion where blockchain tech will have it's biggest impact. Once we can connect Africa financially to the global community then a world of opportunity opens up for all sides. Americans can more easily lend and invest in Africa which isn't always easy to do using traditional means. Microtransactions will be critical to make this possible in my opinion.
Just look at the impact Steem is having all over the world? Steem has so much utility because it has international reach. But what about the day when you and I can buy real estate in African countries, or by companies which put stocks on the blockchain? The fact is this crypto is only a signalling system and we miss out on investment opportunities when we aren't diversified globally while people in Africa who want to have the opportunity to expand their businesses or start a business might struggle to get funding.
Crowdfunding or ICOs or Peer to Peer lending are groundbreaking technologies but these are just the beginning. Imagine how cool it will be when Steem whales can divert some percentage of their wealth toward investment opportunities to connect Africa to crypto tech?
Akon and Akoin in my opinion is a good start but I think we can and should do better. It's not so much the coin that matters but connecting people together (people in Africa to people in America etc). Remittance, lending, real estate, stocks, bonds which pay yield, all could in theory be used to build up countries in Africa.
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Agreed.
This reminds me of one of the most rewarding - not financially, as I ended up selling at a loss, but mentally-emotionally-spiritually, so have supported the cause - investments I made when I was just starting a couple years ago, Bitland. Not sure where they’re at in progress now, but was really cool to see such a great application being developed that’d make such a huge difference to the people on the ground, in ways we can’t even fathom, coming from the western world.
Even Steemit, too - it’s incredibly inspiring seeing communities thriving in Africa! Nigeria, especially, there’s been such powerful movements happening via Steemit extending into towns and cities. One of the reasons I’m staying invested in Steem is to give back and pay forward the opportunity, supporting some exceptional leaders there who have been paving the way for amazing changes.
It’ll be great to see Akon’s weight thrown into the larger movement, as no doubt his influence is significant enough to amp things up.
Exciting times...
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yeah cryptocurrency is becoming more popular day by day....so everyone is gonna adopt it and i think that a good opportunity for less developed countries to earn cryptos
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To put it bluntly, a lack of trustworthiness and trust is the #1 problem of Africa. If African countries had a higher level of trust, Africans would be able to coordinate their actions and fix everything else. As it stands, the situation looks pretty hopeless.
Enter the blockchain. With it there is hope for a much better future. If that would come to pass, Africa could become an economic powerhouse compared to the state it is in now.
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Good points.
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why dont they just use bitcoin lol
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maybe it has a separate function?
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The goal if the coin is to promote Africa and Senegal. Bitcoin is international.
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This is certainly an ambitious project! And I agree it's a noble one that would solve many African problems if it can be done, will be interesting to see if this goes anywhere.
Sounds like his plans may get distracted if he runs for U.S. President, that was a highly entertaining part of the article!
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Akon is the best rapper/entrepreneur , Hov can suck a bag of dicks!
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It will be interesting to see how this develops, he might just have the clout to pull this off as long as he has a good team working on the back end coding for the blockchain.
#thealliance #witness
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