Category Archives: Akon

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The Music Industry Flirts With Crypto and Reaps the Benefits

Recently, blockchain tech and cryptocurrencies have used their burgeoning popularity to pull in stars from the world of sport, not wanting to miss out on the next big thing on the block. However, musicians are some of the newbies on the front line of the new tech. Some have made more impact than others though.

Better known from his time with band Genesis, Peter Gabriel is an example of one who has no intention of dabbling. Gabriel is an ardent fundraiser for humanitarian causes and a supporter of the British Labour Party to which he has made significant donations.

His investment in the startup, Provenance, was undisclosed but clearly, it’s now contributing towards the company’s expansion of its product. Through Provenance, Gabriel’s money helps provide transparency to food transportation, basically giving the public a better idea of exactly where their food comes from and how it gets there. The Provenance blockchain-based application is predicted to be used in over 1,000 food businesses by 2025.

The ex-Genesis singer and drummer can now add his name to the list with other prominent personalities promoting ICOs over social media in the past year, such as Paris Hilton, Floyd Mayweather, and Katy Perry.

Islandic enigmatic singer Bjork wants her music out there and be purchased with crypto, to which end she hooked up last year with London based Blockpool, allowing her fans to exchange Litecoin, Dashcoin, and AudioCoin for her 2017 album Utopia.

Singer Imogen Heap commented that cryptocurrency has helped her in her recent projects too, particularly with her release of the song Tiny Human on the Ethereum blockchain in 2015, allowing people to download the song in exchange for Ether:

“People paid USD 1, or 1 ETH, which was equal to USD 1 at the time,” she said. “That was USD 200. I didn’t think anything of it and then, of course, it went massively up and I took a bit out and put it into the project, and then it went massively down. It went up to GBP 200,000.”

Senegalese singer AKON with his cryptocurrency Akoin also made the headlines amid plans to build a crypto city, but others from the music industry are getting involved in the blockchain, such as Kanye West.

Never to be outdone, rapper Kanye West tweeted happily earlier this year about blockchain and his version of a digital music service Spotify called Yeezy Sound, aimed to be a decentralized application that would incorporate cryptocurrency. That plan clearly is still in the pipeline, although the trademark applications are in.

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Akon’s Crypto City in Senegal Will Be “Real-Life Wakanda”

Famous American singer Akon has embraced cryptocurrency and blockchain technology, and will be launching his own cryptocurrency named AKoin while building a city in Africa called Akon Crypto City. The focus of both of these crypto projects is to help Africa, which is Akon’s passion.

Akon said at the Cannes Lions International Festival of Creativity, “I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people, and brings the security back into the currency system, and also allows the people to utilize it in ways where they can advance themselves, and not allow government to do those things that are keeping them down.”

Akon is of Senegalese descent, and the President of Senegal, Macky Sall, has gifted him a 2,000-acre tract of land to build Akon Crypto City. The land is only five minutes from a new international airport, a short drive to Dakar which is the capital and largest city in Senegal, and near the beach. Akon Crypto City will be 100% blockchain and cryptocurrency-centric, and is branded as an opportunity for blockchain enthusiasts and companies to collaborate to develop the city of the future.

Akon says it will be a “real-life Wakanda”, the futuristic African city setting of the Marvel superhero Black Panther, said to possess technology far more advanced than anywhere else in the world thanks to an advanced material called vibranium. Akon Crypto City’s real-life equivalent to vibranium will be blockchain technology.

AKoin will be the official cryptocurrency of Akon Crypto City, but Akon wants the cryptocurrency to not only be used in the city but all across the continent of Africa. The goal of AKoin is to provide new income opportunities to stimulate economic stability and growth in Africa. AKoin will be a platform from which decentralized apps (dapps) can be built, much like Ethereum, and the hope is that these dapps will generate crypto jobs for Africans.

 

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