Akoin For Africa? Hope, Cynicism Collide As Singer's Coin Catches Fire

It's an undertaking that can't be exaggerated: Akon - the American-Senegalese R&B singer, songwriter and producer - is creating a new cryptocurrency called "Akoin."

As Akon tells it, the forthcoming coin will serve as the currency for a yet-to-be-developed city in the country of Senegal.

The "Akon Crypto City" will occupy a reported 2,000 acres of land gifted to the singer by the president of Senegal and is envisioned to be a "100% crypto-based city with Akoin at the center of transaction life."

The cryptocurrency's unveiling and its use for both the development of a "Crypto-based city" and as the underpinning of a cause to empower African youth, has arguably launched the celebrity of Akon to whole new level.

Back in 2014, the Grammy-nominated singer started a for-profit company dubbed "Akon Lighting Africa" with the help of his two friends, Thione Niang and Samba Bathily.

Funded by a $1 billion credit line, Akon Lighting Africa has gone on to install 100,000 solar street lamps in 480 rural communities across 15 different African countries.

Praise for Akon - not only as a singer but as an entrepreneur and philanthropist impacting the Senegalese people and the African continent more generally - is one of the reasons why his name continues to be in the social media spotlight.

Talking at Cannes Lions in a panel moderated by People deputy editor JD Heyman, Akon stated he was preparing to confront the President of the United States, Donald Trump, during the 2020 presidential elections.

For all the talk of Akon's new plans to launch a cryptocurrency, build a crypto city and take on the president of the U.S., it's no wonder people are likening him to Marvel superhero character Black Panther, and his planned city with Wakanda, the fictional utopia.

The social media response to Akon's plans weren't all positive or supportive, however.