What is Akoin?
Knowledge is power. Economic knowledge, particularly, is the power to spend resources efficiently, develop rapidly, and improve people’s lives.
February 17, 2020 — 3 minute read
Imagine being able to track all financial, trade, and social data in your economy. You’d know exactly which social programs are best at helping impoverished individuals transcend into better lives. You could thoroughly track food, water, and electricity waste throughout your community. Your doctors, from border to border, would have timely access to shared crucial information to keep you safe.
Akoin, by visionary global artist and philanthropist Akon, aims to unlock the potential of Sub-Saharan Africa, the world’s largest emerging economy, using a revolutionary cryptocurrency banking platform. Sub-Saharan Africans are mostly under the age of 25 and have 2 cell phones per person on average.
However, even if Sub-Saharan Africans work diligently on fantastic business ideas, they face a variety of significant obstacles. A lack of service infrastructure prevents them from working with other locals. Collaborating across borders is difficult because territories use 54+ different currencies with varying exchange rates. Even if they wanted to make bets on fluctuating currency values across their continent, 62% of Sub-Saharan Africans have no access to a bank account.
They can’t save money or invest in better lives.
Entrepreneurs in Africa are held back by spiraling inflation, unsupportive government regulation, widespread corruption, and a lack of access to business tools and training. Those conditions are challenging, but it makes Sub-Saharan Africa the perfect place to implement the future of banking. We want to empower Africa with a single uniting currency on a secure platform that tracks economic, trade, and social data to give everyone the potential to securely develop the businesses, and lives, of their dreams. Based on the foundation of blockchain technology, Akoin will create a model economy in pursuit of efficiency. On our digital application platform, the Dapp marketplace, users will be able to save money, pay utilities or other users, develop skills on educational applications, apply or hire for jobs, request loans, market goods and services, or create new Dapp marketplace applications.
Everything they need to build businesses which can address their community’s problems. All the while, those applications will gather data which can be used to improve individual lives and the greater Akoin economy.
With the Akoin Platform, we can even financially reward entrepreneurs for meeting educational or social impact goals. Our goal is to assist 2 million entrepreneurs in creating 30 million jobs by 2030.
So what is Akoin?
Akoin is an adaptable economy to take on the greatest challenges of mankind.
