Over the last few years, cryptocurrency has taken the finance world by storm. Investors and finance analysts alike are intrigued by the possibilities afforded by decentralized digital currencies. Although crypto coins like Bitcoin and Ethereum are currently the most popular cryptocurrencies available, there are now more than 4,000 different alternative crypto coins to invest in.

And now Akon has decided to throw his hat in the cryptocurrency ring.

During a recent presentation Akon gave while attending the Cannes Film Festival, the Grammy-nominated singer debuted his new cryptocurrency, AKoin. Akon, who is was born in Senegal, believes that the blockchain and cryptocurrency could act as a savior for African businesspeople and entrepreneurs. This is why he’d been so motivated to design and build his own crypto coin.

What Makes AKoin Unique

According to Akon, AKoin was decided to help young entrepreneurs living in Africa. And that’s what makes the coin so unique in the increasingly crowded cryptocurrency space.

Unlike other alt-coins, the price of AKoin is pegged to a hard asset — something like mobile phone minutes, wi-fi, or technology services. This means that the price of AKoin is much more stable than other crypto coins out there, which are often hampered by volatility because they are not tied to anything tangible.

AKoin is also working with various global brands to provide incentives and prizes for coin owners. Akon and his company refer to these brand-related programs as being part of the AKoin Ecosystem, which brings together AKoin’s digital wallet, different brands, foundations, and charities, as well as other phone apps to create revenue opportunities for the young and gifted.

AKoin has also created something called the Partner Accelerator program to help coin owners interact and engage with companies and charities that have a solid track record of success. This is just one example of how Akon wants AKoin to help connect the individuals with successful business ventures on a direct, one-to-one level.

Akon suggests that AKoin can revolutionize the way individuals and corporations do business in Africa. On one hand, AKoin opens up a whole new world of commerce and business opportunities for young, up-and-coming visionaries throughout Africa. At the same time, AKoin will also help brands, companies, and corporations establish a business foothold on the continent, where corruption and government bureaucracy have hindered the ability of companies to build a presence in various countries.