Akoin, the highly anticipated digital currency that is set to economically power Senegalese-American singer Akon’s blockchain-based futuristic city the West Coast of Africa, made its debut in a tech city in Kenya as a pilot for the $6 billion Akon City. Now, the digital currency has completed the pilot rollout stage of its deployment in the Mwale Medical and Technology City complex in Kenya, and is set to become its exclusive cryptocurrency.
After the successful completion of its trial, Akoin is now set to be fully deployed in the $2 billion complex in July. Akoin President and co-founder Jon Karas commented on the success of the pilot program, adding that the roll-out was received with “great enthusiasm.”
Following its deployment, AKN will be available for use to 5,000 hospital workers, 2,000 merchants, and over 35,000 residents of the MMTC. The team expects over $5 million in transactions from the facility using AKN tokens.
According to the announcement, AKN utilization is also expected to cover 20,000 MMTC workers by December 2021. The Akoin team estimates that by the end of 2022, AKN will become the exclusive digital currency of the facility, processing somewhere between $1.7 and $2 billion in transactions per year.
As part of this plan, workers and residents of the complex will also be able to receive their salaries in AKN. The token will be used for microtransactions, peer-to-peer money transfers, and mobile airtime top-ups among other uses.
The Akoin team is also reportedly releasing a physical card that will be connected to the AKN wallet of the cardholder and will allow users to transact across 40 million global merchant platforms.
Akoin co-founder Lynn Liss expects to use the lessons learned from the AKN deployment in the MMTC as the base which would ultimately act as a blueprint for scaling the adoption of the cryptocurrency across the entire continent.
The Nevada Blockchain City
Akon isn’t the only one building a futuristic blockchain-powered city. As previously reported by The Daily Chain, Blockchain incubator and investment firm Blockchains LLC recently reinforce its plans to build a smart city in the Nevada desert east of Reno.
The company’s CEO has also requested the State of Nevada to let him form a local government on the 67,000 acres of land.