Cryptocurrency News Today – Headlines for June 18

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  • Crypto-powered Akon city in Senegal is one step closer to completion
  • Akon’s crypto-powered city has secured a $6 billion contract
  • The $6 billion construction contract was awarded earlier today

Cryptocurrency News Today – Akon City has secured a major deal and has moved one step towards completion. The crypto-powered city has awarded a $6 billion construction contract to KE International. Recall that Senegalese-American singer and songwriter Akon has been working on the establishment of a crypto-powered city.

Now, Akon City has awarded the construction contract. Akon City will rely on Akoin. The successful music artist Akon secured the $6 billion contract for his crypto-powered city in Senegal. The construction contract was awarded to the U.S-based KE International, an engineering and consulting company.

The $6 Billion Contract for Akon City Was Awarded Earlier Today

The firm can now access $4 billion to complete the first and second phases of execution of Akon City. The bulk of the city’s infrastructure will be constructed in 2023. By 2024-2029, Akon City aims to run on Akoin. The city’s partners include crypto payments firm Bitminutes, tourism agency SAPCO, and Blockchain firm Delchain. Note that KE International has already built MMTC (Mwale Medical and Technology City).

MMTC is an ecocity funded by Julius Mwale a Kenyan entrepreneur. Akoin will be a stablecoin based on Stellar’s network. Although Akoin will be heavily used within Akon City, the cryptographic project is also working to make the coin a medium of exchange in 54 African nations and on some dApps.

Akoin will be available via an atomic swap. This move will allow users to swap digital currency, phone minutes, and fiat. Despite been an ambitious endeavor, Akoin hasn’t attracted as much attention as anticipated since it was announced in 2018. However, this may change when the coin is listed on crypto exchanges later in the year.

Other Celebrity Cryptocurrencies Are Available

Akon isn’t the only celebrity to own digital currency. Although not as publicized as Akon, other celebrities have their cryptocurrency. The winner of Miss Iowa, Jessica VerSteeg, has also launched her token called Paragon. Paragon, which is now-bankrupt was launched in 2017. Others who have launched digital tokens include rapper Gramatik. Gramatik launched a music payment token called GRMTK back in 2017 as well, which is now defunct.

Meanwhile, other celebrities have been involved in existing virtual currencies. Ashton Kutcher donated his XRP to charity. Meanwhile, Mike Tyson has openly endorsed the “Bitcoin revolution. He has led a Blockchain sports project known as “Fight to Fame.” William Shatner has backed the Bitcoin mining firm, Solar Alliance. Shatner has been involved in many other crypto-related ads as well. It is still unclear whether Akoin will turn out to be a success or not. However, it is safe to say the project has made great progress.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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