Powered by Linux - Created with ♥ by WebZein, Akon Crypto City To Be Built By 2029 Following $6 Billion Construction Contract, Chengdu, China wants to adopt blockchain for urban governance, Bitcoin futures reflect risk aversion, but spot market is bullish in long-term, Singapore-based bank to launch a crypto exchange, Mongolian bank will soon start offering crypto services, Hackers Donate Bitcoin From Ransomware Attacks to Charities. The Senegalese-American star plans to establish the first city to run entirely on renewable energy and cryptocurrency with his own digital currency – Akoin. The developed economy aims to adapt future development. The announcement informs that Akon City’s phase one should be completed by the end of 2023. The construction of the city will occur on 2000 acres of land given to Akon from the President of Senegal. The announcement informs that Akon City’s phase one should be completed by the end of 2023. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The development of phase two, on the other hand, should be done in five years from 2024 to 2029. The Senegalese-American star plans to establish the first city to run entirely on renewable energy and cryptocurrency with his own digital currency – Akoin. While most community members regarded the rumors about the futuristic-cryptocurrency themed Akon City initially as somewhat sarcastic, Akon himself made it official after finalizing the agreement earlier this year. Akon City, the futuristic city to run on renewable energy and the Akoin cryptocurrency, has awarded a $6 billion contract to KE International. This category only includes cookies that ensures basic functionalities and security features of the website. Bitcoin.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites. While the initial costs were estimated to be approximately $2 billion, the announcement from today revealed a much higher amount. While most community members regarded the rumors about the futuristic-cryptocurrency themed Akon City initially as somewhat sarcastic, Akon himself made it official after finalizing the agreement earlier this year. Once completed, Akon City will run exclusively on the Akoin cryptocurrency. The announcement informs that Akon City’s phase one should be completed by the end of 2023. With this deal, KE International has secured $4 billion initially from investors to start the first and second phases of the building procedures. "Just finalized the agreement for AKON CITY in Senegal," he wrote. Aside from collaborating with the building procedures, SAPCO will also assist with advancing the tourism sector in the region and the country. Akon City has awarded a contract for building and executing the city to the US-based firm worth $6 billion in total. The city plans to exclusively use the akoin cryptocurrency, which has been described as a stablecoin built on the Stellar payment network. There will also be parks, universities, a stadium, and an industrial complex. Monero(XMR) Price Predictions 2020, 2021, 2022, 2023, 2024, 2025. Let us know in the comments section below. Akon. One Weekly Email Can Change Your Crypto Life. Akon City will apparently be Senegal's first Leadership in Energy and Environmental Design (LEED) city, which will be a short drive from an international airport and use its own cryptocurrency, Akoin. According to Thursday’s announcement: Akon City phase 2 will run from 2024 to 2029 and will end with a complete cryptocurrency city running exclusively on akoin cryptocurrency. It will include the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, hotels, residences, a school, a police station, a waste facility, and a solar power plant. Timeframes For Building Akon City. Commenced in 2014, the construction project is 85% done and expected to complete in December this year. He began writing about blockchain technology in 2017. You can unsubscribe at any moment, The Digital Age Is Here: Crypto And Fintech Companies Soar, While Bank Stocks Tank, The Good and The Bad About Cryptocurrency on PayPal, $14,000 By End of 2020 a Reasonable Target for Bitcoin’s Price: Filb Filb in Exclusive Trader’s Digest, Huobi Guide & Exchange Review: How to Trade Options, Futures, and Perpetual Swaps. You can unsubscribe at any time. It is mandatory to procure user consent prior to running these cookies on your website. Tip us some BAT, Your email address will not be published. © 2020 Billboard. He has managed numerous crypto-related projects and is passionate about all things blockchain. The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. source: https://news.bitcoin.com/akon-city-akoin-cryptocurrency/, TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. "Looking forward to hosting you there in the future." Rapper Akon, 46 (left), has signed a deal to build a 2,000-acre city in Senegal - the country of his birth - which he previously claimed would run on renewable energy and trade in cryptocurrency. The 46-year-old musician announced the project in 2018. Akon City certainly isn’t the first proposed smart city for Africa. Akon City is set for 2,000 acres outside the Senegalese capital gifted to him by Senegalese President Macky Sall. Akon, who was born in Africa, previously explained that the city will be built up in a series of phases spanning 10 years, as construction broke ground on the 2,000-acre land last March. The current evolution required a flexible infrastructure to accommodate new real estate development. There will also be parks, universities, a stadium, and an industrial complex. Aside from collaborating with the building procedures, SAPCO will also assist with advancing the tourism sector in the region and the country. We strongly advise our readers to conduct their own research when making a decision. Just finalized the agreement for AKON CITY in Senegal. It will include the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, hotels, residences, a school, a police station, a waste facility, and a solar power plant. Akon is moving forward with plans to build a $6 billion sustainable smart city in Senegal called Akon City. Akon City’s phase 1 is expected to complete by end of 2023, and will see the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, residences, hotels, a police station, a school, a waste facility and a solar power plant. The President of the country has also earmarked the futuristic city as an exclusive tax zone with several planned tax breaks to incentivize investments. Akon City, the futuristic city to run on renewable energy and the Akoin cryptocurrency, has awarded a $6 billion contract to KE International. We NEVER send spam you. You also have the option to opt-out of these cookies. These cookies do not store any personal information. The post Akon City: $6 Billion Cryptocurrency City Set to Begin Construction appeared first on Bitcoin News. The city will have its own air terminal for residents and tourists to fly in and out of. Required fields are marked *. Once completed, Akon City will run exclusively on the Akoin cryptocurrency. With this deal, KE International has secured $4 billion initially from investors to start the first and second phases of the building procedures. To build the city’s economy Akon plans to use his own cryptocurrency called AKoin. Looking forward to hosting you there in the future, A post shared by AKON (@akon) on Jan 13, 2020 at 5:53am PST, A daily briefing on what matters in the music industry, Red Velvet's Irene Apologizes After Verbally Attacking Fashion Editor | Billboard News, Aaliyah Book 'Baby Girl: Better Known As Aaliyah' Dropping Next Year | Billboard News, For King & Country, Kanye West Among 2020 GMA Dove Awards Winners: Complete List, Saweetie Addresses Birkin Comment After Backlash: 'We Deserve to Be Treated Like a Queen', Pedro Almodovar's 'Dolor y Gloria' is Spain's Pick for Oscars: Listen to Music From the Movie, Tony Lewis, Lead Singer of The Outfield, Dead at 62 | Billboard News. Your email address will not be published. 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