- After being told that Senegal’s West African franc was worthless in France, Akon decided that Africa needed a new currency
Akon, the famous singer who is launching a cryptocurrency called Akoin while simultaneously building a futuristic crypto and blockchain-based city in Senegal named Akon City, has revealed why he started these projects. Apparently, it comes down to a single incident when trying to use the West African franc (CFA), which is the fiat currency of Senegal and many other nations in Africa.
One day, Akon was rushed to the airport and had no chance to convert his CFA before leaving Africa and flying back to France. The global superstar thought that he could easily convert the CFA to euros in France though, because it was the same country, a former colonist in the African continent, that created and runs the CFA currency.
However, once Akon was in France and tried to convert his CFA to Euros, he was told that the currency is worthless there. At that point, the world-famous singer realized that Africa needed its own currency that was not run by foreign nations.
That being said, Akoin still hasn’t launched yet, but it appears to be a serious project and should launch sometime this year.
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