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Akon is Building the World’s First Crypto City

Akon, the singer, songwriter, and entrepreneur has been dabbling in cryptocurrency at least since the 2017 cryptocurrency boom. Now, Akon has just secured a $6 billion dollar deal to build a completely cryptocurrency based city in Senegal. The project was first announced by Akon in 2018 and has been in the early stages ever since. One major hurdle to be crossed is certainly funding, and it appears that this is now figured out. The smart-city is set to be integrated with Akoin, a proprietary cryptocurrency built by Akon. The city is to be built on top of a 2000 acre plot of land gifted to Akon by the President of Senegal.

A side profile of a glass building.

What Does It Take To Build A Crypto City?

Some might say this city is a pipe dream. Others are very enthusiastic about the prospects of a fully integrated crypto smart-city. The idea of smart cities has been around for quite some time. While most major cities have many aspects of being a smart city, none of them are completely integrated.

It is much easier to build a smart city from scratch than to upgrade an existing city with smart tech. If the world is to truly see what a next generation city will look like, then we need the sort of gusto that Akon is showing. Also, $6 billion dollars certainly helps. One of the closest approximations of a completed smart city is Masdar City in the United Arab Emirates. 

A Cryptocurrency Tourist Destination

One of the main drivers for building a cryptocurrency city is to drive tourism to Senegal. Let’s face it, the prospect of having a completely integrated crypto city sounds amazing.

Imagine arriving in Senegal, and downloading a wallet specifically designed to interact with all of the city’s services. The buses, subways, parking meters, payment terminals, housing, and hotels would all be hooked up to your wallet. This would create a seamless experience while visiting the city. There is also plenty of opportunity to enrich the experience by pushing additional incentives and opportunities directly to the app.

Cryptocurrency Community Reception

How will such a city be received by the cryptocurrency community at large? From one perspective, a good number of people will be in total support of something like this. There is a prevalent sentiment that any major cryptocurrency developments such as this is good for the overall industry.

The other plausible sentiment is in regards to the “core coin” of the city. Having a central and dedicated coin for the city is one thing, and having that coin be Akoin is another. This is fairly anti-decentralization, and in a sense anti-cryptocurrency. There is a good possibility that a portion of the cryptocurrency community will be displeased with the notion of a city built around a coin that is owned by Akon.

There is still a way for the crypto city utopia to gain favor with the broad cryptocurrency community. The city would do well if it accepted a selection of the most popular cryptocurrencies such as Bitcoin and Ether. While the city itself runs on Akoin, it would be an oversight to exclude cryptocurrencies held by the majority of world users. Crypto tourists will need to be able to get ahold of Akoin using any currency of their choosing. Either that, or be able to spend any coin from their wallet. Regardless, the notion that Akon is building a crypto city sounds futuristic and utopian.