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Stellar

Stellar Lumen (XLM): Akoin ready for mass adaptation in mega project

    • The Akoin will be used in a first test run in order to be able to pay for goods and services with the AKN token.
    • The crypto currency Akoin is based on the Stellar Lumen Blockchain and was selected due to the technical infrastructure of the network.

    As Crypto News Flash reported in April of this year , the crypto-affine rapper Akon launched a project that has recently made great strides. In the Mwale Medical and Technology City (MMTC) in Kenya there is a hospital that has 5,000 beds and accommodates over 35,000 people. Akoin was created so that all patients have access to financial services. The Akoin is based on the Stellar Lumen Blockchain.

    In the MMTC, the companies are also connected to the new network so that Akoin can be used to pay in the supermarket as well as at the gas station. In a new update, Akon announced that it is conducting an initial test run with select residents of MMTC and businesses that Akoin can use to pay for goods and services. In addition, salary should also be paid in the form of the AKN token.

    Julias Mwale, founder of MMTC and entrepreneur, presented his vision for the USD 2 billion project at “BlockDown 3.0” last month. All transactions can be processed in near real time and used for instant currency conversion through Atomic Swaps. There will also be Akoin credit and debit cards.

    More than 20,000 workers should be connected to the network by the end of next year and all retail stores should be able to accept the Akoin. Airports, gas stations and public institutions are also expected to use the new crypto currency. According to the co-founders of Akoin Lynn Liss and Jon Karas, more than 30,000 transactions will be running over the network by the end of November:

    We are ready for it. We worked with the Akoin team week after week. We expect the first 30,000 transactions next month (November).

    Liss goes on to say that the number of transactions per month should increase to 1.5 million:

    We want to increase it to up to 1.5 million transactions per month. We expect the city to be fully completed by the end of this year. We are working on paying utilities and bills. It will be an explosive city of cryptocurrency.

    Akon and his supporters want to improve the development and access to financial services in Afirka. The decision for Stellar (XLM) was easy, as the blockchain is equipped with smart contracts and is significantly more scalable than the competition, the press release continues.

AKN token listed on Bittrex

Yesterday the AKN token was listed on one of the largest exchanges in the world, Bittrex, and already started with a trading volume of more than USD 500,000.

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