Key Takeaways
- Akoin enables transactions to be exchanged for phone minutes or other forms of exchanges.
- Akoin to hire about 5,000 employees in the first six months of the project.
- Aims to be the best online exchange platform in Kenya
According to reports, the pilot tests for Akoin started in November 2020 at the Mwale Medical Technology City. Residents could receive and deposit money using Akoin and using the tokens to purchase airtime and other utilities.
According to a spokesman, the tests were successful, and the full deployment is expected to lead to over $4 million worth of transactions monthly. As earlier stated, the first phase of deployment begins by September, and there are expectations that the market cap of Akoin will hit $2 billion by Q4 2022.
Akoin is a unique token and the first targeted at the African market. It intends to promote business owners and entrepreneurs by simplifying the payment process. The blockchain project will hire more than 3,000 workers in Kenya, which could rise to over 15,000 workers by 2022.
In September, the public launch will provide more information about Akoin, its use-cases, and its benefits to society. Akoin faces a major battle since Kenya has a popular mobile-based payment finance platform called M-Pesa.
However, it is expected to work given the time and effort put towards its design, testing, and deployment. It will be interesting to see how well it performs in the first few weeks following its launch in September.
Do you think Akoin has what it takes to dominate the world of online payments in Kenya?
