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Uganda To Have Its Local Crypto City; Second edition of Akon City

In August 2020, Akon announced his plan to build “Akon City,” a futuristic hub in his ancestral homeland, that will run on Akoin, the cryptocurrency launched by the singer.

Envisioned as a sustainable smart city, Akon City has been pitched as a $6 billion residential and commercial property, complete with resorts, towering condos, recording studios, a stadium, and e-commerce franchises.

Now, Akon has announced his plans to launch a second cryptocurrency city in Uganda with the government’s support for its development. An NBS news report revealed that Ugandan authorities would allocate land to Akon for setting up the crypto city.

According to a statement made by Uganda’s Minister of State for Lands, Housing, and Urban Development, Isaac Musumba, the government will provide full support to the project development. The authorities will reserve land of one square mile or bigger for the new crypto city. Described as a “real-life Wakanda’ by Akon, the first crypto city was a unique initiative that aimed to popularize the use of cryptocurrencies in the African financial space.

The Ugandan crypto city will use Akon’s own cryptocurrency, the stellar-based Akoin, similar to Akon City in Senegal. The crypto token is currently in use at the Mwale Medical and Technology City of Kenya as a pilot project. The Uganda project is slated to be completed in 2036.

Talking about the futuristic project, Akon said that the project is an opportunity, and every opportunity motivates people to grow with it. He added that his vision is to cover the entire continent and develop it and for the needs of the people to unite them. His team aims to use the resources achieved over the years to build the continent. The Grammy-nominated singer revealed that he would send professionals to Uganda to train the local people to achieve their full potential in construction and management of the resources required for the task.

David Cox: David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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