Rapper and entrepreneur, Akon, shares his creative and discerning for his forthcoming Akoin cryptocurrency on this unique video interview with Cointelegraph.
The crypto platform will allow the tokenized buying and marketing of cell phone credit, a preferred various to many risky fiat currencies on the continent of Africa.
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In this interview preview, Akon discusses how the widespread use of cell phone credit as a way of commerce throughout Africa affected the Akoin crypto community.
To discover out about Akon's plan to construct crypto-powered cities in each main African metropolis, try our full unique video interview with Akon.
Akon on the usage of cellular telephone credit score as foreign money in Africa
According to Akon, most individuals "don't really understand how Africa itself works."
"We have so many currencies in Africa," he states. "A lot of them are unstable, and most of them are untrusted. It got at issue where the day-to-day African people don't even use the currencies any more, they're exploitation their cell phone proceedings and credits as a way of trading for basic goods like produce, fish, fruits and things on the market."
Akon says that the usage of cellular telephone credit as foreign money affected the "atomic swap" perform on the Akoin platform - which lets customers commerce cellular telephone credit score for cryptocurrency.
"Cell cellular telephone proceedings are used as foreign money in plenty of components of Africa. That was one factor that propelled us to understand, man, the Akoin goes to be very neat, as a result of in the end, outdoors of the villages, you actually cannot commerce cellular telephone proceedings for something."
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