Senegalese American rapper and businessman Akon will start building a new cryptocurrency city – this time in the East African nation of Uganda.
According to a report by the leading Ugandan broadcaster NBS, the country’s government has announced the allocation of land for the project.
Aykon, in Uganda, is said to cover a square kilometer equal to half the size of London (not to be confused with Greater London, which makes up most of the UK’s capital).
Akon is also building a much larger $ 6 billion crypto city in Senegal, with the project covering 2,000 acres, or about 3.12 square miles. Both future cities will use the Akoin (AKN) blockchain-based cryptocurrency.
Asked if Uganda could finance a coded urban development project, Akon replied:
“I know that if you put it out there, they [Ugandans] will find a way to endure it because it will motivate them […] Finally, when you create an opportunity, people learn from that opportunity [and] people are motivated by taking advantage of it. That opportunity.”
Neither Akon nor the Ugandan government provided the debtor with the estimated cost of the project during the press conference at which the project was announced.
However, Akon said the crypto city will help attract more investment into the country as well as create jobs for Ugandans. Aykon, Uganda, is expected to be completed by 2036.
In addition to crypto cities in two African countries, the Akoin project is also partnering with a $ 2 billion medical city in Kenya. As Cointelegraph previously reported, AKN is fully operational in Medical and Technology City and will be used for employee salaries as well as daily payment transactions.
As part of the launch, the Akoin team also launched an AKN debit card, which allows its holders to use Akoin for more than 40 million online merchants worldwide.