This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/newsbeat-44560789
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Akon wants to build 'real-life Wakanda' using a currency called AKoin | Akon wants to build 'real-life Wakanda' using a currency called AKoin |
| (about 1 hour later) | |
| Akon says he's planning to release a new cryptocurrency named after himself - called Akoin. | Akon says he's planning to release a new cryptocurrency named after himself - called Akoin. |
| Speaking at the Cannes Lions Festival on Monday, the Locked Up singer said he believed cryptocurrency could be "the saviour of Africa". | Speaking at the Cannes Lions Festival on Monday, the Locked Up singer said he believed cryptocurrency could be "the saviour of Africa". |
| AKoin's official website says the singer wants the app "on every mobile phone" between now and December. | AKoin's official website says the singer wants the app "on every mobile phone" between now and December. |
| And Akon says he's also planning to build a "crypto city" in Senegal which he calls "a real-life Wakanda". | And Akon says he's also planning to build a "crypto city" in Senegal which he calls "a real-life Wakanda". |
| Just like the fictional land of Wakanda in Marvel's Black Panther, Akon promises says his city will be a "futuristic environment". | |
| The website says Akon has been "gifted" 2,000 acres of land by the President of Senegal to build the city - which is also named after himself. | The website says Akon has been "gifted" 2,000 acres of land by the President of Senegal to build the city - which is also named after himself. |
| Akon Crypto City will apparently be "a short drive" from Dakar, the capital of Senegal. | Akon Crypto City will apparently be "a short drive" from Dakar, the capital of Senegal. |
| He calls it "the first 100% crypto-based city with AKoin at the centre of transactional life". | He calls it "the first 100% crypto-based city with AKoin at the centre of transactional life". |
| Under the "Akoin Ecosystem", consumers will be able to buy, hold and spend cryptocurrency straight from their smartphones. | Under the "Akoin Ecosystem", consumers will be able to buy, hold and spend cryptocurrency straight from their smartphones. |
| "It brings the power back to the people and brings the security back into the currency system," Akon explained. | "It brings the power back to the people and brings the security back into the currency system," Akon explained. |
| "It also allows the people to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down." | "It also allows the people to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down." |
| However, Akon admitted he didn't know all the technical aspects of his new venture. | However, Akon admitted he didn't know all the technical aspects of his new venture. |
| "I come with the concepts and let the geeks figure it out," he said. | "I come with the concepts and let the geeks figure it out," he said. |
| What is cryptocurrency? | What is cryptocurrency? |
| Cryptocurrency is a digital or virtual currency that operates independently from a central bank. | Cryptocurrency is a digital or virtual currency that operates independently from a central bank. |
| It uses cryptography (the conversion of information into an almost uncrackable code) to secure and verify transactions. | It uses cryptography (the conversion of information into an almost uncrackable code) to secure and verify transactions. |
| This makes it extremely difficult to counterfeit. | This makes it extremely difficult to counterfeit. |
| The first and probably most famous cryptocurrency is Bitcoin, which was created by an unknown person using the name Satoshi Nakamoto in 2009. | The first and probably most famous cryptocurrency is Bitcoin, which was created by an unknown person using the name Satoshi Nakamoto in 2009. |
| Several celebrities have endorsed or invested in cryptocurrency, including Katy Perry, 50 Cent and Ashton Kutcher. | Several celebrities have endorsed or invested in cryptocurrency, including Katy Perry, 50 Cent and Ashton Kutcher. |
| Akon's others ventures in Africa | Akon's others ventures in Africa |
| AKoin is one of many projects Akon has announced in Africa. | AKoin is one of many projects Akon has announced in Africa. |
| While he was born in Missouri, Akon is of Senegalese descent and spent much of his childhood there. | While he was born in Missouri, Akon is of Senegalese descent and spent much of his childhood there. |
| In 2007 he co-founded the Konfidence Foundation, a health and education charity for underprivileged children in West Africa and the United States. | In 2007 he co-founded the Konfidence Foundation, a health and education charity for underprivileged children in West Africa and the United States. |
| He also co-founded the Akon Lighting Africa project in 2014, which Akon's site says has brought solar power to 18 African countries so far. | He also co-founded the Akon Lighting Africa project in 2014, which Akon's site says has brought solar power to 18 African countries so far. |
| Follow Newsbeat on Instagram, Facebook and Twitter. | Follow Newsbeat on Instagram, Facebook and Twitter. |
| Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here. | Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here. |