Akon’s DLT Startup to Set up a Blockchain Hub in Kenya in Q4 2020

Published at: July 6, 2020

Akon, a famous Senegalese-American musician and a known blockchain supporter, is setting up a blockchain hub in Kenya.

Dubbed the “Kenyan Opportunity Hub”, the new venture aims to promote blockchain and artificial intelligence, or AI, education. They also hope to provide Kenyans with more work opportunities.

First African blockchain hub launched by Akoin and Effect.AI

A joint initiative of Akon’s blockchain startup Akoin and EOSIO-powered project Effect.AI, the hub is set to launch in Q4 2020 and will be the first initiative of its kind in Africa, the companies announced to Cointelegraph on July 1. The project will be handled by Akon’s philanthropic arm, the Akon Foundation.

The Kenyan Opportunity Hub will be the first African blockchain hub in a series of so-called Akon-Effect Opportunity Hubs. At these hubs, people will be able to access AI and blockchain-related education as well as online work paid in cryptocurrency on Effect.AI’s blockchain platform.

According to a joint announcement, the hub is likely to be located near Mwale Medical and Technology City, a project run by United States engineering firm, KE International. By building the hub close to Mwale, the creators intend to unlock more work opportunities like tech-powered medical record translation.

Effect.AI runs a similar hub in the country of Georgia

As announced, the Kenyan Opportunity Hub will benefit from the experience of a similar Effect.AI’s hub that is already operating in Rustavi, Georgia.

Launched in partnership with the United Nations Development Program in 2019, the initiative seeks to boost industry job opportunities and promote tech knowledge. Headquartered in the Netherlands, Effect.AI project is a decentralized AI network operating on the EOS blockchain.

Cointelegraph reached out to Effect.AI and Akoin to find out more about the Kenyan blockchain hub initiative. This article will be updated pending any new information.

Akon’s “crypto revolution” plans

News of the Kenyan blockchain hub comes soon after Akon was awarded a $6 billion contract to build a cryptocurrency city in Senegal. The project envisions the construction of a “100% crypto-based city” featuring Akon’s Akoin cryptocurrency.

Akon’s ambitious plans on pushing mass adoption of blockchain technology in Africa is part of his long-running African “crypto revolution.” Alongside plans to build crypto cities and hubs in Africa, Akon is also planning to issue his own cryptocurrency to enable the tokenized trading of mobile phone credits, which are used as a currency in Africa.

The upcoming token, known as Akoin, is planned to be issued on the Stellar blockchain. The utility token will power “atomic swaps” between crypto, fiat, and mobile phone credits on the Akoin network.

Tags
Blockchain
Business
Charity
Africa
Kenya
Ai
Eos
Related Posts
Jelurida will launch 30-day blockchain education campaign across East Africa
The African arm of the company behind the Ignis, Nxt and Ardor blockchains will be launching a multi-country tour to provide blockchain education in the public and private sectors. According to information provided to Cointelegraph, Jelurida Africa said it would begin a blockchain expedition starting with Tanzania’s self-governing state of Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and Tanzania. The group aims to promote blockchain education with meetups in universities, financial institutions and public offices. The team of distributed ledger technology and smart contract experts said it plans to reach out to …
Blockchain / Oct. 13, 2021
AI-Blockchain Platform Creates Digital Assets From Personal Data
Artificial Intelligence (AI) specialist Kneron announced the launch of its KNEO platform on July 16, combining edge AI devices with blockchain technology to create secure and private personal networks. The Kneron Neural-network Edge-AI Open platform also creates digital assets out of personal data which can be exchanged or sold to the corporations who want them. Blockchain-connected sensors create private network KNEO uses blockchain technology to connect a number of edge AI sensors or stems, such as cameras, microphones and thermal sensors. The term “edge AI” refers to systems which process algorithms locally, rather than sending data for remote processing. This …
Technology / July 17, 2020
Future of Currency in W. Africa: CFA Franc Collapse and Eco Inadequacy
It has been nearly two decades since the world saw the introduction of a new multinational currency bloc that would alter the balance of global power. Just like the euro, a new currency is taking shape that can compare in scope and vision. Only this time, it’s happening in Africa, and shockingly it’s not digital. The West African Monetary and Economic Union state countries are currently in transition to adopt a new currency that will be used in a single market across a dozen or more West African countries — the Eco. Pegged to the euro, it is designed to …
Blockchain / March 13, 2020
The Bitcoin Family talks about traveling, giving and orange-pilling
Seasoned crypto enthusiasts will remember Didi Taihuttu as the man who went all-in on Bitcoin (BTC) in 2016. He sold his and his family’s possessions. camping out in the Netherlands while he waited for Bitcoin to the moon. In an interview with Cointelegraph, Taihuttu recalls how it felt to own almost nothing but Bitcoin, 6 years ago: “I don’t have any cars, motorbikes, nothing. And I’m happier than ever. And she [Taihuttu's wife] agrees! At that moment we decide to break that chain and lead by example for the kids.” He explains his realization that life is about accumulating happiness, …
Adoption / March 2, 2022
‘We don’t like our money:’ The story of the CFA and Bitcoin in Africa
Nearly 150 million people use the franc of the Financial Community of Africa (CFA) on a daily basis, from Senegal in the extreme west to Gabon in the center of the continent. Used in 14 countries, the CFA is pegged to the euro, printed in France and its monetary policy is controlled by Western powers. As Fodé Diop, a Bitcoin (BTC) Lightning developer hailing from Senegal details, “the IMF and the French government still control the currency.” While the official peg to the euro is 1 euro to 655.96 CFA francs, its purchasing power has eroded over time. In 1994, …
Adoption / March 16, 2022