Senegalese government openly supports the Akoin (cryptocurrency) project.

[CryptopreneurBrainboss]

Woke up to the news of Akon's city project (in Senegal) been approved by the government of the country, he has been given the go ahead to build a city that its official currency would be cryptocurrency but sadly that cryptocurrency won't be bitcoin, although it'll be a great avenue to create awareness about the concept of cryptocurrency both in the country and continent (Africa). I see some positive development from this project as the government are already onboard but it worries me that many uniformed Senegalese will be misinform and denied the privilege of enjoying true financial freedom that cryptocurrency is meant to introduced to the masses through bitcoin.


Image credit: https://mobile.twitter.com/Akon/status/1216803497057931264

The proposed Akoin currency is likely going to be another centralized cryptocurrency that transaction would be closely monitored and moderated like the fiat. The whitepaper haven't been published (to my knowledge) as I don't have any idea how the coin will be operated.  What's your take on this project, do you think it'll add some positive feedback to how cryptocurrency is been viewed in the continent, increase adoption of cryptocurrency in the country and continent and probably create more awareness for bitcoin as the king of the cryptocurrency industry?. In general, what's you take on this project?

PS: I'm having this feeling, the Chinese are behind this project and Akon's reputation is just been used to gain acceptance. I might be wrong though lol.

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[TheCoinGrabber]

My first thought was immediately AKON when I saw that coin's name LOL. Haven't heard from the guy for a while.

Considering the project head is a celeb I'm already assuming that it's centralized and the coins are acquired via an arbitrary manner. My view might change if I get more information about the coin but I'm not optimistic. The only thing this could be good for is introducing people to the concept of what a crypto is and they might hear about bitcoins and what sets it apart from these other shitcoins.

PS: I'm having this feeling, the Chinese are behind this project and Akon's reputation is just been used to gain acceptance. I might be wrong though lol.

It's possible. I mean, I don't remember AKON being that rich or influential. China have big interest on Africa and this could be a test run for their own cryptocurrency, on what effect would having a certain area dump fiat.

[merchantofzeny]

I can't find new info about the project but the amount of people screeching "Wakanda" on Twitter in response to this was hilarious.

I see some positive development from this project as the government are already onboard but it worries me that many uniformed Senegalese will be misinform and denied the privilege of enjoying true financial freedom that cryptocurrency is meant to introduced to the masses through bitcoin.

I think the good thing that could happen with this is that it will entice investors and money would be coming in using that crypto, which would then spillover into the surrounding communities. It would be better if that location would also be some sort of duty-free zone/free port to attract more investment.

[KingScorpio]

Woke up to the news of Akon's city project (in Senegal) been approved by the government of the country, he has been given the go ahead to build a city that its official currency would be cryptocurrency but sadly that cryptocurrency won't be bitcoin, although it'll be a great avenue to create awareness about the concept of cryptocurrency both in the country and continent (Africa). I see some positive development from this project as the government are already onboard but it worries me that many uniformed Senegalese will be misinform and denied the privilege of enjoying true financial freedom that cryptocurrency is meant to introduced to the masses through bitcoin.


Image credit: https://mobile.twitter.com/Akon/status/1216803497057931264

The proposed Akoin currency is likely going to be another centralized cryptocurrency that transaction would be closely monitored and moderated like the fiat. The whitepaper haven't been published (to my knowledge) as I don't have any idea how the coin will be operated.  What's your take on this project, do you think it'll add some positive feedback to how cryptocurrency is been viewed in the continent, increase adoption of cryptocurrency in the country and continent and probably create more awareness for bitcoin as the king of the cryptocurrency industry?. In general, what's you take on this project?

PS: I'm having this feeling, the Chinese are behind this project and Akon's reputation is just been used to gain acceptance. I might be wrong though lol.

senegalese government? in africa every idiot forms his own government, and tries to found banks. no point giving a damn about any african "governments"

[squatz1]

My first thought was immediately AKON when I saw that coin's name LOL. Haven't heard from the guy for a while.

Considering the project head is a celeb I'm already assuming that it's centralized and the coins are acquired via an arbitrary manner. My view might change if I get more information about the coin but I'm not optimistic. The only thing this could be good for is introducing people to the concept of what a crypto is and they might hear about bitcoins and what sets it apart from these other shitcoins.

PS: I'm having this feeling, the Chinese are behind this project and Akon's reputation is just been used to gain acceptance. I might be wrong though lol.

It's possible. I mean, I don't remember AKON being that rich or influential. China have big interest on Africa and this could be a test run for their own cryptocurrency, on what effect would having a certain area dump fiat.

This isn't a test run for anything. Akon is rich and famous enough within Africa to be given some land and the ability to name the land (and his new formed town) his name everything else being done is just a sham and is either being done to defraud actually people or just for Akon to be massively narcassitic about himself.

Rich people buy land all the time. This is stupid and really shouldn't be news worthy, but here I am commenting about it.

[CryptocurencyKing]

The Akon's city project to a large extent is certainly going to create more exposure to the people of Africa. Especially with the fact that, the then city's proposed currency is going to be cryptocurency. This is in itself a test-run as much as I can grab and who knows, depending on its success, it can be adopted by other cities, create a vacuum for other projects of its kind to come up and any fault that might arise from the Akon's city project would result in new innovations and better initiatives in upcoming projects with it's nature.
Having it in Africa is a big boost for the continent and Cryptos especially Bitcoin which stands out amongst all. As the African people would come to know more of cryptocurencies.

[AbelBaricStevenson]

This one probably do more harm than good to reputation of real decentralized project like Bitcoin. Avoid.  If I was live in Africa I will stick with Bitcoin.

[batang_bitcoin]

It now became the hot topic for this week. If the Senegalese government will support Akon's project then there's already a strong foundation for his project. I have no idea for how the Senegalese government moves but if a project has a support from a government entity, it could thrive.
But if I were Akon, I should support some other projects and push a proceed for a specific agenda with the use of bitcoin.

[Lucius]

I was primarily interested in whether it was really about building a city, or maybe it was about some big shopping center that used to have the word city in its name. One tweet on the official Akon profile claims it will be a city that will cost about $6 billion which is big money.

I can't say what interests are all involved here, but the building land was donated by the government, and main company working on this project is KE International ("KE International is an American Engineering and Infrastructure Consulting firm that specializes in the establishment of large scale sustainable and renewable projects worldwide"). I cannot rule out the involvement of the Chinese, but according to the available data I do not see that they are directly involved in the project.

I think that Akoin is just something that is part of a much bigger picture, and that it is still about much bigger financial interests than some fictional cryptocurrency. The Senegalese government is obviously very interested in this project because they believe it will bring added value, either by improving the lives of residents or perhaps as a tourist attraction.
 
https://mobile.twitter.com/Complex/status/1272963544053698561
https://www.rollingstone.mx/conoce-akon-city/

[DoubleEdgeEX]

So they are building Wakanda now somewhere in Senegal? Everything positive about crypto/blockchain coming from an African country is bringing hope to far more people than in a random European country or the USA. I really hope they are successful and help as much people as possible

[Ucy]

Just reading about this for the first time even though I have seen several topics on it.
I really don't think this is a good time to keep building typical cities.
Well, it depends on how the city will be. I think some sort of well decentralized, natural, sustainable, modular, non-stationary moderate/small "city" will probably do. By the way, you build things like this to suit your good culture rather than copying from modern city models that could cause future problems or even abandoned/mismanaged.

[thesmallgod]

It is definitely going to be a coin that will have its own block chain and will be used to access real estate property and other social amenities. Depending on how the project unfold, you can't tell the full benefit of the akon coin but the way I've seen it, it might be available on few exchange and probably akon coin will have some other features such as the popular DOM token that was launched by dominion project some years ago

[wozzek23]

The proposed Akoin currency is likely going to be another centralized cryptocurrency that transaction would be closely monitored and moderated like the fiat.

Apart from being a centralized cryptocurrency, I think it’s also going to be one of those stable coins. And that makes me wonder how they are benefit from it. Maybe the taxes, bill payments, and other sort of payments that will be paid in that city, a certain percentage of it will be going to Akon and the investors? I will wait follows. And I also like to add that this project is not benefiting Bitcoin at all, they are just doing their own business.

I'm having this feeling, the Chinese are behind this project and Akon's reputation is just been used to gain acceptance. I might be wrong though lol.

Is this worth a mentioning? Why do you people like mentioning Chinese in everything? What kind of relationship does Akon have with the Chinese that made you think their government would be ready to invest in that project. Don’t say what you don’t know please, better to keep quiet than passing out a mere assumption.

[hatshepsut93]

It now became the hot topic for this week. If the Senegalese government will support Akon's project then there's already a strong foundation for his project. I have no idea for how the Senegalese government moves but if a project has a support from a government entity, it could thrive.
But if I were Akon, I should support some other projects and push a proceed for a specific agenda with the use of bitcoin.

There's no strong foundation, they just gave him some land that was otherwise unused. Senegal is an extremely poor country, and they are glad to grasp at any chance to attract more economic activity to their country. Unfortunately, they choose to deal with a typical ICO scam, and I hope they don't plan to put their resources in this doomed project, as it would only worsen their already difficult situation. Senegal might be the first government that got involved in a crypto scam.

[batang_bitcoin]

It now became the hot topic for this week. If the Senegalese government will support Akon's project then there's already a strong foundation for his project. I have no idea for how the Senegalese government moves but if a project has a support from a government entity, it could thrive.
But if I were Akon, I should support some other projects and push a proceed for a specific agenda with the use of bitcoin.

There's no strong foundation, they just gave him some land that was otherwise unused. Senegal is an extremely poor country, and they are glad to grasp at any chance to attract more economic activity to their country. Unfortunately, they choose to deal with a typical ICO scam, and I hope they don't plan to put their resources in this doomed project, as it would only worsen their already difficult situation. Senegal might be the first government that got involved in a crypto scam.

In some countries if the government gives you a piece of land to continue what you're working on, that can be considered as a support. I might be over saying that it's a strong foundation but still there's a support.
But with what you have said, I understand what are the cons and pros of this project. I hope that Akon won't go to the other direction as what you're trying to say. I just wish that he won't.

[bits4books]

unfortunately it won't be btc

Well, when will you accept that btc is not suitable for mass payments? Too slow, too pricey, too low tps. It is much better to actually use more suitable altcoins for this purpose.
The project is interesting and I hope that it will really take off and not drown, remaining another pipe dream at the level of Venus. However, Venus was basically some kind of shit, and here there is every chance of success