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Rapper and entrepreneur, Akon, shares his imaginative and prescient for his forthcoming Akoin cryptocurrency on this unique video interview with Cointelegraph.
The crypto platform will allow the tokenized buying and selling of cell phone credit, a well-liked different to many risky fiat currencies on the continent of Africa.
On this interview preview, Akon discusses how the widespread use of cell phone credit as a way of commerce throughout Africa impressed the Akoin crypto community.
To seek out out about Akon’s plan to construct crypto-powered cities in each main African metropolis, try our full unique video interview with Akon.
Akon on the usage of cellphone credit score as foreign money in Africa
In response to Akon, most individuals “do not actually perceive how Africa itself works.”
“We have now so many currencies in Africa,” he states. “A number of them are unstable, and most of them are untrusted. It obtained to the purpose the place the day-to-day African individuals do not even use the currencies any extra, they’re utilizing their cellular phone minutes and credit as a manner of buying and selling for primary items like produce, fish, fruits and issues in the marketplace.”
Akon says that the usage of cellphone credit as foreign money impressed the “atomic swap” perform on the Akoin platform — which lets customers commerce cellphone credit score for cryptocurrency.
“Cellular phone minutes are used as foreign money in loads of elements of Africa. That was one factor that propelled us to appreciate, man, the Akoin goes to be very neat, as a result of finally, outdoors of the villages, you actually cannot commerce cellular phone minutes for something.”
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