Akoin is a crypto project led by singer Akon which aims to develop and improve the economy of African countries.
Not only that, but Akoin also aims to help the so-called unbanked to become financially independent.
So, by pursuing this goal, it is now possible to buy basic necessities with this token in Kenya.
In fact, the token, which was listed yesterday on Bittrex and is traded for around 15 cents, will be used for shopping and medical services as the 2 billion dollar Mwale Medical Technology City (MMTC) is being launched in Kenya this month.
Hospitals in Kenya will also accept this token for commercial services in view of the future launch of a debit and credit card linked to Akoin.
The Akoin team predicts that over 5,000 employees will be in hospitals by the middle of next year, 2,000 in shops and over 35,000 people will live in Kenya’s new city.
And it will be the people who will generate all the volumes in Akoin: it is estimated that there will be about 1.5 million transactions per month and that the token will be mainly used to buy goods and services in the city and not only, considering that there are also plans to establish Akon City, a real city and business centre founded on the token, at a cost of 6 billion dollars.
Surely it will be one of the few realities to fully exploit an ecosystem completely based on a dedicated token and that could be used by millions of people, explained the founder of the MMTC, Julius Mwale:
“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. Additionally, digital currencies like Akoin will be very helpful in preventing the spread of COVID-19 and the next pandemic, by limiting the spread of germs on physical media. That is why we wanted to use it at Hamptons Hospital”.
A direct step into the future added singer Akon:
“This is a hugely exciting time and represents the first step of a new financial future, not just for MMTC, but for all of Africa and its people.
Furthermore, Akon has also recently formed a close partnership with Effect.Ai with the aim of providing blockchain education, as people in these cities will need to understand and learn how to use this token and the underlying blockchain which, as we know, is Stellar Lumens.