Akoin is not a stablecoin, but we will provide access to other leading stablecoin offerings within our eco-system. Readers are requested to form their own opinions on the contents of this website and to seek professional and independent advice before making concrete investment decisions. All rights reserved. Creating financial inclusion in Africa benefits not only individuals living there but also companies and organizations that hope to provide products or services to the continent. Contact us Grammy-award winning artist and producer Akon is launching a crypto aimed at helping entrepreneurs and businesses within developing companies thrive, and has chosen to launch the utility token on the Stellar blockchain network. Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act. Akoin is listed as a cryptocurrency “powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond,” according to the project’s website. Stellar will serve as the blockchain which Akoin is built upon, both the token and the wider ecosystem.” Speaking about the decision, Jon Karas, co-founder and President of Akoin, said: “Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global … The information found on this site does not contain any information or messages, but is intended solely for information and personal use. According to a spokesperson for the project, Akoin will not be a stablecoin and instead have a fluctuating price. Access to the Stellar Anchor Network will provide the Akoin token even more liquidity and available trading pairs. Jeev, Karas said, was a natural choice as it enabled Akoin to provide and scale healthcare services to critically underserved areas of Africa. All money transactions in the Stellar network (except lumens) occur in the form of credit issued by anchors, so anchors act as a bridge between existing currencies and the Stellar network. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. In a press release shared … This will allow the Akoin to have greater liquidity and greater access to the world of cryptocurrencies. Why Should Traders and Investors Trade Cryptocurrencies With a CFD Broker? The transaction cost, transaction speed, and transactions per second that Stellar facilitates are ideal for the use cases and applications planned for the Akoin Ecosystem. While only 85 percent of the Mwale Medical and Technology City has been completed to date, the entire development should be completed until the end of the year. The project that's one to revolutionise the Adoption and usecase of crypto in the African continent and Senegal in particular will be something to take note of! The Libra project, spearheaded by Facebook last year, was designed to bring stablecoins to unbanked populations in order to help users deprived of financial access to build their wealth, exchange money and make purchases using an accessible currency that holds a pegged consistent value. Fat Protocols vs Fat Dapps vs Fat Wallets. The Stellar blockchain-based Akoin will be used in the Mwale Medical and Technology City (MMTC) in Kenya. In addition, users will be able to exchange mobile phone minutes, which have become a popular means for exchange in certain parts of Africa, for Akoin and other currencies on Stellar’s network. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Akoin, a digital asset platform founded by global artist and crypto investor Akon, has been expanding its presence in Africa in the past few months, a move that has pushed the company out of relative obscurity into the forefront of blockchain development on the continent. - Grammy-nominated Akon's Akoin project will build its network on the Stellar blockchain. Any opinions provided, including e-mails, live chat, SMS or other forms of communication across social media networks do not constitute a suitable basis for an investment decision. Dmytro Spilka The high degree of leverage can work against you as well as for you. The cryptocurrency market is experiencing increased volatility due to the upcoming US elections, as it's not clear who the winner will be. The firm, which secured $4 billion from investors for the first and second phases of Akon City, was also responsible for the design and execution of the Mwale Medical and Technology City (MMTC), set to be completed in December 2020. None of the information you read on CryptoSlate should be taken as investment advice. In a press release shared with CryptoSlate, the company said that it plans to digitize patient health interactions by putting them on a blockchain. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. That partner is the Stellar Organization and their Stellar Consensus Protocol. Bitcoin Price Prediction: BTC investors increase their bets to $30,000 by January 2021, Ripple Price Prediction: XRP downtrend not over as bears target another 10% drop, Yearn.finance Price Prediction: YFI shows mild signs of recovery after 78% correction, ADA price is poised to rebound as the Cardano community prepares for the Goguen era, Bitcoin Weekly Forecast: BTC hits $13,863 for the first time since June 2019. All Rights Reserved | Sitemap Unlike the Vodafone-owned mobile payment provider, there will be no transaction fees on the Akoin network in order to incentivize mass use. Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global financial inclusion, particularly in areas such as Africa. The Stellar DEX and the pairs currently existing within it also provide Akoin users with increased access to the cryptocurrency world. XRP was bounded inside a daily ascending triangle for around one month. If you continue to use this site we will assume that you are happy with it! These factors, coupled with its work with Saldo on providing solutions for migrant workers to send funds back to their families, and impressive developments they’ve made with IBM Worldwire, make Stellar an obvious choice for Akoin. The second transition was Shelley, with decentralization, and the team is currently working on 'Goguen', smart contracts. Developing countries often lack the financial infrastructure needed to provide cheap and simple financial services. Akon has been outspoken about how the coin can empower Africans and empower people across the continent to overcome the drawbacks of national inflation, government carelessness and corruption and embrace using his stablecoin to gain more financial freedom. Your email address will not be published. According to Akon and other company representatives, the project plans to conquer the market in East Central Africa in phase 1 of its development. While its economy is currently 100 percent digital, Akoin would be the first digital currency universally adopted by both its businesses and its residents. Statistics from Skew show that Jan21 calls crossed 10,000 with a 1:4 ratio on $32,000/36,000. Difference between Akoin and other tokens on Stellar Blockchain. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. By immediately giving users access to several pairs beyond Akoin and XLM, we give them the ability to dive into the cryptocurrency world and explore in ways that the current financial infrastructure limits. Trading cryptocurrencies or related products involves risk. Akoin, the most transparent token on Stellar network Do you know that the Tokens allocated to the team are used to compensate the current and future Akoin employees for work completed both before the IEO and into the future. The official roadmap for Cardano is divided into five categories starting with Byron, related to the foundation. Karas highlighted the Stellar Network’s “efficient cross-asset transfers of value” as a benefit for Akoin and said users will be able to instantly swap from one currency to another. The Akoin team has, according to the foundation, chosen the Stellar blockchain because it is “both equipped with smart contract and more scalable than its competitors,” according to a blog post in March: The transaction cost, transaction speed, and transactions per second that Stellar facilitates are ideal for the use cases and applications planned for the Akoin Ecosystem. However, the project is currently still in the beta phase, but is expected to come onto the market this year. The partnership will allow Jeev to use the Stellar-based Akoin token to provide its blockchain-based medical service for digitizing healthcare across the entire patient life-cycle—from in-person interactions with doctors and patient records, to diagnostics. Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. Many investors seem to be targeting at least $30,000 by January 2021. The Stellar DEX creates cryptocurrency pairs for all assets available on Stellar, creating liquidity for Akoin and inherently it’s DApp partners. Most anchors are organizations like banks, savings institutions, farmers’ co-ops, central banks, and remittance companies.” — Stellar. Akoin has been establishing major partnerships across Africa—it announced that it was to become the main currency for the Mwale Medical and Technology City (MMTC) in Western Kenya earlier this year and has pushed forward with the plans to build the eponymous Akon City in Senegal. Bringing the benefits of blockchain to Africa is our core mission at Akoin. While setting up banking accounts can be difficult in the region due to a lack of identifying documents or access to the relevant services, cryptocurrencies could offer a solution, due to the ease in which currency can be stored in personal digital wallets on mobile apps. According to an update, the Akoin cryptocurrency ecosystem will use Stellar’s network as its basis. **= Risk warning: 75% of retail CFD accounts lose money when trading CFDs from this provider. Smart contracts play an essential role in the Akoin ecosystem. Akon City was set to be 100% driven by crypto and would be entirely eco-friendly. The company awarded the contract for building and executing the $6 billion futuristic city to KE International, a U.S.-based consulting and engineering firm. Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. The Stellar Compliance Protocol will ensure that we’re able to meet the compliance needs of any potential partner we encounter as Akoin continues to expand across Africa, and beyond.

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