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Possible reasons Why the Akoin “real life wakanda” project is facing stagnation

Back in June 2018, around the time when the Cannes Lions International Festival of Creativity was taking place in Senegal, one of Africa’s most beautiful countries, the legendary music and rap star Akon, announced his intention to lunch what he termed a “smart city” in his Country of birth, Senegal. Akon even went further to brand the project a “real life Wakanda”, stirring up cryptocurrency fans around the globe. In Akon’s announcement in June, he disclosed that the “Akoin” digital currency is set to be launched in two weeks time. However, seven months later, the coin is still yet to see the light of day. While the smart city/akoin is not up and running, it can be verified that the Akoin project is still in its foundational process, but what is the cause of the delay that is taking the “real life Wakanda” more than half a year to be brought into reality? The Structure of Cryptocurrency in Senegal Surprisingly, this is not a case of friction between the Senegalese government and cryptocurrency, in fact, the Senegalese government is one out of the very few in Africa that has fully embraced the innovation and technological breakthrough of cryptocurrency. Not only did the president of Senegal Macky Sall, gift Akon 2,000 acres of land for the Akoin project, but the Senegal government had also recently undergone a partnership between Banque Regionale de Marches (BRM) to launch a national digital currency dubbed “eCFA”. With the government’s multiple involvements in cryptocurrency, it is certain that the Akoin project is not facing any hindrance from the Senegalese government. The mighty “real life” Wakanda Project Meanwhile, in-depth research reveals that the delay of the Akoin project may be solely tied to the intensity of the project structure. This is evident in the fact that Akoin is not only a digital currency, but is intended to fuel a Smart city, one that Akon says will create schools, parks, and even hospitals. Seeing that the technology will require a handful of technicians, the project has taken a rather calculative process as it partners with Lottery.com in aims of attracting as many investors as possible. While this is already slowing down the project’s movement, the Akoin project is already showing signs of what Akon says will be “the savior for Africa”. The post Possible reasons Why the Akoin “real life wakanda” project is facing stagnation appeared first on ZyCrypto.

Akon’s Crypto Project Akoin And Lottery.com Global Impact Platform Partner To Reach Millions Of Users

Lottery.com is working in order to develop a global impact platform that aims to raise funds through the gamification of donation online. In a new blog post uploaded on September 10, the company announced that it is developing a Global Impact Platform, which will work in order to address philanthropy issues in a completely new and unprecedented way. The platform will be incorporating impact raffles, sweepstakes and other known games worldwide. This would allow the company to gamify the process of charitable giving. With it, Lottery.com would be able to raise billions of dollars and help the world solve urgent humanitarian challenges. Tony DiMatteo, Lottery.com CEO, said on the matter: “Our vision is to raise billions of dollars to help sole the most pressing humanitarian needs across the globe using impact raffles, sweepstakes, and other games of chance.” At the moment, the platform will target users that play games of chance and other traditional donors. The company is not only trying to gather funds for charitable projects, but it is also working to raise awareness for humanitarian causes. Tony DiMatteo and Lottery.com’s co-founder, Matt Clemenson, want to have a positive impact on how the world evolves. In this way, the company works as a ‘social good company’ that aims to leverage its expertise and new technologies and have a positive impact around the world. Akoin’s Partenrship With Lottery.com Akoin has decided to sign a partnership with Lottery.com in order to enhance their activities. The company aims to empower young entrepreneurs using digital platforms that give entrepreneurs tools to stimulate micro-exchanges and financial stability. Both companies will be collaborating closely with each other to fulfill their goals. In Africa, for example, entrepreneurs have high entry barriers. It is not easy to access to funding, mobile phones and computers as it is in other countries. Lottery.com is able to have a positive impact in the space distributing wealth at scale. Additionally, it is possible to expose social entrepreneurs to opportunity much faster than what traditional fundraising models allow. Akon wrote in a press release: “I’m proud to announce Lottery.com as Akoin’s first official partner. They bring a combination of technology and experience that’s incredibly rare. And this, together with their passion for emerging entrepreneurs, is going to be critical to the success of Akoin, supporting young people around the world.” Akon added that the company is able to provide immediate access to real resources such as training and business capitalization. With it, it is possible to help entrepreneurs work on other businesses. Matt Clemenson, Lottery.com president said that one of the core values at Lottery.com is ‘Everyone is an Entrepreneur.’
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Akoin is an investment in the “future of Africa”, says Akon; predicts dollar to be a digital currency

Aliaume Damala Badara Akon Thiam, more popularly known as Akon, recently appeared on Revolt TV’s Drink Champs podcast to speak about cryptocurrencies and the crypto-market. He also took the opportunity to offer his opinions on what cryptocurrencies were, thus enlightening the hosts on what cryptocurrencies were. When they stated that they did not know what cryptocurrencies were, Akon replied that “nobody” knew, offering a comparison to stocks. He called it “no different to the stock market”, stating that investors buy shares of companies that are “more trusted”. He stated: “It’s a little bit different but it’s almost the same concept the way I understand it. I’m still learning a lot about it myself. The more I get into it the more start to understand it.” The rapper is famous for launching a coin known as Akoin, which is aimed at building the future of Africa. Due to the large percentage of unbanked population in the continent, the move of introducing a cryptocurrency there would advance the financial infrastructure of the country. The ecosystem of the Akoin aims to bridge the gap that is present in the underdeveloped parts of Africa between digital and face-to-face platforms. The coin will allow users to spend the cryptocurrency and provides cryptocurrency and entrepreneurial lessons to young businessmen in the country. Akon also spoke about the coin on the podcast. He stated: “What you are investing in is the future of Africa when you invest in Akoin. Akoin is set up to empower the entrepreneurs.” On the economics behind cryptocurrency, Akon clarified that it was indeed backed by nothing. He went on to say: “The thing is crypto ain’t really backed by nothing. Bitcoin ain’t backed by anything. It’s the network is back by the popularity and the trust factor. You can trust to know that if you buy a Bitcoin is worth a certain amount of money. That’s any currency; it’s whatever the people say it’s worth.” Many who are part of the cryptocurrency boom are a part of it because they believe that it was the evolution of money. Akon also echoed this thought, stating that it was going to be “future in currency”. He further illustrated this point by providing an analogy to the evolution of music media from 8-track tapes to vinyl to CDs and MP3s and streaming music. He stated: “When you look at currency you went stagecoaches you know to like literally trading whatever you can trade. Cattle, to trading gold, to actually creating something that gold can be compared to and that’s what the actual dollar is today, and someday the dollar is going to turn into something digital. Dollar’s analogue, your credit card is digital, but crypto is money. From now, crypto is going to be the next currency.” The post Akoin is an investment in the “future of Africa”, says Akon; predicts dollar to be a digital currency appeared first on AMBCrypto.

Akon’s Akoin Crypto Project Highlights How Emerging Economies Can Benefit from Blockchain

Benefits Of Cryptocurrencies To Emerging Economies Developing countries face a myriad of problems such as high unemployment levels, high cost of living, poor infrastructure as well as political instability. However, the launching of cryptocurrencies into the global financial markets may be the what these emerging economies need in order to explore and achieve their full potential. Some of the advantages of adoption of cryptocurrencies by these developing countries include: Low Costs Of International Money Transfer When it comes to emerging economies, money is actively coming in and out of a country’s borders. Each day, thousands of transactions are carried out and a lot of fees is charged for these international payments. However, the use of cryptocurrencies reduces this cost since it allows peer to peer transactions which eliminate the need for banks who charge very high fees. Increased Financial Inclusion A lot of the population in emerging economies remain unbanked and can’t take advantage of the financial solutions out there. Cryptocurrencies opens up this population to a whole new financial world which in turn spurs growth. Using blockchain technology to open digital wallets provides accessible financial solutions to individuals who are not in a position to open bank accounts. Freedom From Government Manipulated Currencies Political instability is a major challenge in developing countries and with it comes inflation which has been a major challenge. For example, Venezuela is grappling with hyperinflation to the detriment of its citizens. As much as cryptocurrencies may not be stable, there’s a new crop of cryptos referred to a ‘stable coins’ whose value is pegged on actual assets. By adopting such coins, a country is cushioned from currency manipulation by government or outsiders. Fundraising Medium Blockchain technology has provided a more transparent and accessible way of bussing entrepreneurs to raise capital. Through ICOs , people in developing countries can quickly raise funds to fund their ventures on a global scale. Cryptocurrencies have reduced the barriers of entry into viable economic ventures. Entrepreneurs in developing countries can now build their visions in a simple and digital manner. There’s no denying that cryptocurrencies offer hope to emerging economies and it’s highly advisable for people in these economies to take advantage of the limitless opportunities that blockchain technology offers.
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Akoin Cryptocurrency Project From Akon Looks To Make Real Impact For Africa

Cryptocurrency has long been a source of contribution to stopping the world’s constant drama. For example, the Pineapple Fund donated some $55 million in BTC to several different charities. One of the foundations who received money was focused around providing water to those in poverty. Cryptocurrency is designed to improve the financial problems of the world by given stable currency to countries who don’t already have it. There are still a lot of countries who don’t have banking systems in place, which is where cryptocurrency fits in. People who are cryptocurrency owners already tend to have their toes dipped into the water of several different financial arenas. A majority of them are men who live in the United States and Canada. As for AKOIN, the token was created by the North American Musician who wanted to build his own city/state in Senegal. The project has jumped to more than narrow personal ambition, instead of inspiring several entrepreneurs of Africa to do businesses across the continent of Africa. The important part to note is how Akon’s decision sparked a movement to create new opportunities. However, with the scams associated with the cryptocurrency, there is a lot of negativity surrounding Akoin. It’s not too late for the platform to run around, however, and to provide Africans with a stable monetary system that can be accessed without the need for a traditional banking system. Akoin is making moves to grow by partnering with other companies like BitMinutes and Butterfly. There’s no hiding the fact that the continent of Arica has faced significant setbacks in the past because of corruption. Akoin hopes to create a stable currency that is not susceptible to corruption and will in turn, help new markets in Africa. Transparency is the secret to doing the token work; people are sick of the hardships in the country. There is still a long hard journey for the cryptocurrency, however, who needs to work on their current roadmap. With the new launch of the token, cryptocurrency has a chance of gaining some real traction in Africa. Akoin is inspired by the Marvel movie Blackpanther, even calling the community its built around Wacoinda. They are also looking to move beyond Senegal into other countries like Nigeria and Ghana. One thing the team must work on is fixing the damages caused to the token by its first frustrating launch. But with the help of Akon who is working hard to see the project through to the end, Akoin still has the potential to be a significant cryptocurrency player, possibly even the largest one in Africa.
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Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX

After partnering up with the firm behind the second largest coin XRP [XRP] Ripple as one of the +200 costumers, Mercury FX announced via their official twitter handle that they transacted their largest payment across RippleNet with a positive conclusion. 1/1 We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds. pic.twitter.com/WsHJuZTiOy — Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019 Using XRP, the firm transferred £3,521.67 or $4,552.41 while they cited that UK based Mustard Foods was able to save £79.17 and 31 hours on the transaction. Mustard Foods could be one of the best examples of the impact of using RippleNet could have as it opened doors to cheaper expenses, quicker orders and faster payments. As covered by John P. Njui on EWN a few days ago, The Ripple company has announced via its website that 13 new financial institutions have joined RippleNet thus propelling the number of total global customers to over 200. RippleNet currently operates in 40 countries across 6 continents. Out of the 13 aforementioned financial institutions, 5 are confirmed as using XRP to source instant liquidity for their cross border payments. The are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. By the end of this year [2018], major banks will use xRapid as a liquidity tool. By the end of next year [2019], I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity. – Brad Garlinghouse The success behind the team from Ripple could be standing by their marketing strategy and future plans of making the financial industry a better place to be. While not displacing traditional banking systems but helping them make payments cheaper and faster, it is finding its way to take spotlight in the crypto-verse. The post Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX appeared first on Ethereum World News.
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BRD Wallet Expands Crypto User Access Across Europe With Coinify Partnership

Coinify, a European-based financial platform that provides a wallet, trading and payment processing solution, has announced that they are integrating BRD Wallet into their platform to deliver BRD wallet access to users across the European region.Specifically, the partnership provides access to virtual currencies, like bitcoin, to 34 countries across the Single Euro Payments Area (SEPA). The SEPA region is a collection of member states in Europe who are part of a payment system that simplifies bank transfers denominated in EUR. The launch is also enabled largely in part by Coinify’s newly rebranded trading solution for wallet partners.Customers will now be able to use BRD Wallet to “purchase bitcoin at cost-efficient rates with SEPA bank transfers” within Coinify’s trading platform. With BRD integration, customers will also retain control over their private keys while using Coinify.Essentially, this provides a large number of users with an efficient and secure way to buy bitcoin and other cryptocurrencies, and then allows them to immediately store it in a manner where they control what happens to their money. Typically, a user will entrust the custody of their private keys to a centralized exchange while they are waiting for trades to be executed and sometimes for much longer than that.Aaron Lasher, co-founder and chief strategy officer at BRD, highlighted the advantages of the integration for security-focused users of the Coinify platform.“We like exchanges and think security will get better in the future, but by using our integrated purchase and trading solutions, you get to keep your funds under your control 99 percent of the time, and only put them at a slightly higher risk for a short period when you make the exchange,” Lasher told Bitcoin Magazine.“Using a non-custodial wallet means that you and you alone control your funds. It’s similar to having physical cash in a (highly secure) safe at home. Only in this case, we provide our customers a digital safe (the BRD wallet) that they can keep in their pocket and carry along. Nobody else in the world has access to your funds but you, and nobody can stop you from sending or receiving funds.”Integrating a wallet that allows users to own their funds and seamlessly make trades on a platform like Coinify could help to push bitcoin adoption forward."The financial industry is ripe for disruption and we see bitcoin and the other virtual currencies as the future of payments,” said Rikke Stær, chief commercial officer at Coinify, told Bitcoin Magazine. “At Coinify, we have experienced first-hand the rising adoption of bitcoin and working with BRD as a user-friendly, decentralized wallet will only encourage the global reach of the currency."“Since launching as the first iOS bitcoin wallet in the App Store over 4 years ago, we’ve grown tremendously in North America,“ Adam Traidman, CEO and co-founder of BRD, said in a statement. “Europe will be strategic in the next phase of BRD’s global growth, and the partnership with Coinify will ensure our success in this crucial endeavour.”In August 2018, Canadian-based Coinberry exchange launched a similar BRD integration, allowing users to quickly and seamlessly buy, deposit and withdraw bitcoin on the Coinberry platform, while keeping control of their keys at all times. This article originally appeared on Bitcoin Magazine.
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Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 Major cryptocurrency payment service provider BitPay has reported $1 billion in transactions this past year, according to a press release Jan. 16. According to the report, the company also set a new record for itself in terms of transaction fee revenue. […] Cet article Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 est apparu en premier sur Bitcoin Central.
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