Why Stellar Lumens Is the Choice of Blockchain for Uganda’s Akon City

Why Stellar Lumens Is the Choice of Blockchain for Uganda’s Akon City

April 6, 2021

Reading Time: 2 minutes

The development of a futuristic city spearheaded by Senegalese American singer Akon is in the works in Uganda. The local government has already approved the project and proceeded to allocate a square mile piece of land to facilitate it. NBS Television reported the Akon City in Uganda would be completed in 2036.

According to singer Akon’s vision, Akon City is to run its economy on the cryptocurrency Akoin. Open-source blockchain Stellar Lumens powers Akon City’s Akoin.

Akon is developing a similar project in his origin country Senegal. According to Senegal’s cryptocurrency-powered futuristic city’s blueprints, the project involves building schools, malls, hospitals, waste management services, police departments, and recreation and culture facilities. All these, Akon maintains, will be circuited by Stellar Lumens-powered Akoin.

Stellar Lumens Perfect for Emerging Markets: Akon

According to Akon, Stellar Lumens is the perfect blockchain for the emerging markets that characterize Senegal and Uganda. The Senegalese American singer believes Stellar will significantly contribute to strengthening the financial infrastructure of the futuristic Akon City.

In a statement to news outlets, Akon said that his cryptocurrency-powered futuristic city is an opportunity to bring the benefits of blockchain to Africa. He added that Stellar Lumens would build the continent’s financial infrastructure and considerably reduce costs by getting rid of intermediaries and increasing transparency.

With its speed and scalability features, the Senegalese American singer is convinced Stellar Lumen is the best blockchain to achieve the ultimate goal of lowering economic barriers for all Africans.

Stellar Lumens Own Charitable Works Makes It the Best Choice for Akon City

Moreover, Stellar Development Foundation is familiar with charitable projects from its extensive network of organizations that accept Stellar Lumens donations. Considering that philanthropy is at the center of these cryptocurrency-powered futuristic cities, Akon considers this another important factor why Stellar Lumens-powered Akoin is their cryptocurrency of choice.

Stellar Lumens’ own XLM has over the past week traded over 27% higher. Currently, the coin holding up the open source blockchain is trading at $0.5396.

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