The co-founder of Akoin, Karas, stated that Akon's digital city could be the exact emerging platform the Africa economy require.
He said that the proposed city is not just a fantasy with them signing a construction deal worth 6 billion dollars with a United States-based engineering company and also raising 4 billion dollars in financing for the first two stages. Stage one is to commence in early 2021 and finished by the year 2023, with the whole project scheduled to be completed in ten years.
The co-founder explained that as soon as the project is completed in the next ten years, it will provide necessary resources for residents to make use of cryptocurrency in their daily lives, with the possibility of making other African countries adopt it.
He also added that they intend to work with the government to help utilize blockchain technology for most infrastructural, financial and tax-related systems.
He also mentioned that occupants would be able to make tax payments, payments for the issuance of business licenses, and essential services making use of cryptocurrency.
Source: Cointelegraph
