United States engineering firm KE International awarded Senegalese-American singer and entrepreneur Akon with a $6 billion contract to build a cryptocurrency city in Senegal.
Akoin City Source - coincentral.com |
According to a June 4 announcement, KE International secured $4 billion from investors for the first two phases of Akon City’s construction.
CoinTelegraph reported that Akon first announced plans to build the city in January and the firm has now confirmed the deal and added more details about the project.
Akoin Crypto City Dissected
- The first phase of Akon City’s development is expected to be completed by the end of 2023. By the end of this phase, the complex will include a mall, residences, hotels, a police station, a school, a waste facility, a solar power plant, and a hospital campus.
- The second phase is expected to be completed in 2029 and is expected to deliver a complete city entirely running on the Akoin cryptocurrency.
Akoin is a cryptocurrency designed for entrepreneurs in developing countries such as Africa.
The complex is already 85% complete and includes a 5,000-bed hospital, which opened to the public last year. Interestingly, this hospital also partnered with Akon to leverage its Akoin cryptocurrency for transactions.
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