Akoin – the digital coin initiative of famous American-Senegalese musician Akon – is reportedly going to be available across the $2 billion Mwale Medical Technology City (MMTC), in Kenya.
Specifically, the release of crypto coin Akoin will be finalized concurrently with the AKN token listing on Bittrex crypto exchange platform.
MMTC – being a freshly established city in the heart of a state-of-the-art medical and technology complex – can reportedly serve as an suitable testing location for the digital coin, in preparation to make it the official currency of Akon City – being built at the moment in Senegal.
Throughout the pilot phase to be carried out in late November 2020, citizens will reportedly have the ability to carry out purchasing and selling activities using Akoin, with immediate conversion of the currency into cell phone minutes or other different types of exchange.
Despite the first release being in the form of invite-only, the project reportedly has goals to clock in 30,000 transactions on a monthly basis, via implementing atomic swaps, merchant services and an Akoin debit card.
By half way through 2021, a release at a larger scale to 35,000 citizens, workers at the 5,000-bed Hamptons Hospital and 2,000 merchants is reportedly predicted to create a surge, in terms of volume, to 1.5 million transactions monthly.
The development will reportedly be the pioneering initiative to boost crypto usage across Africa, potentially throughout the globe also.
“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.” Akon and MMTC founder Julius Mwale reportedly remarked.