Akon’s Crypto City in Senegal Raises Many Questions

Akon's crypto city

Akon is certainly not lonely when he is in Senegal. The president of that country gifted him 2,000-acres of land to build his own crypto city. Akon City, or as the city shall be known, is reportedly located just 5 minutes away from Dakar International Airport. Curiously, all transactions in the city will take place in cryptocurrency, called Akoin. Akon announced his plans to launch his own cryptocurrency called Akoin, to go with his crypto city. 

Akon’s crypto city seems impressive at the first glance

  • The crypto city is located near the capital of Senegal, Dakar
  • It is only 5 minutes away from the airport
  • All transactions in Akon City will take place in cryptocurrency
  • Akon has announced his own cryptocurrency called Akoin
  • The city will be built on a piece of land measuring 2,000 acres

How feasible is the Akon’s crypto city project?

Currently, Akon is looking for investors and funding, and he has already launched a roadmap to the city. In fact, there is no white paper yet, and it is unclear what sort of city it is gong to be. In addition, here is no mention of whether Akon City is open to foreign investors. It is not clear if it is just going to be one of those resorts where the rich and the famous can hangout. 

However, many insiders feel this attempt at building a crypto city may backfire, as Akon may have to answer tax officials. The project seems legit, as Senegalese politicians flank Akon in glamorous picture. However, one might still wonder at the veracity of this report. Many countries do allow foreign investors to purchase properties in their countries, and Senegal might just be one of them. 

Where is Senegal and what is it famous for?

Coincidentally, Dakar is one of the best-kept secrets of West Africa. In fact, Senegal’s capital city is known for its pulsating nightclubs and palm-lined streets. It is also famous for its sunny climate and beaches. Being a French-speaking country, you can expect high-end French cuisine at restaurants as well. All these attractive features of the city will be just a stone’s throw from Akon’s crypto city, if the project really takes off. Going by the pictures he has shared on twitter, Akon City seems to be real.