Akon’s Akoin cryptocurrency is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya.
Akoin (AKN), the crypto project developed by Senegalese-American singer Akon, has completed the pilot rollout stage of its deployment in the Mwale Medical and Technology City complex in Kenya.
As previously reported by Cointelegraph, the trial phase was launched back in November 2020 at the time of the AKN listing on the Bittrex crypto exchange.
Following the success of the initial pilot, the Akoin crypto is now ready for full deployment in the $2 billion complex in July.
Commenting on the success of the pilot program, Akoin President and co-founder Jon Karas revealed that the roll-out was received with “great enthusiasm.”
Once fully deployed, AKN will reportedly be available for adoption among 5,000 hospital workers, 2,000 merchants, and over 35,000 residents of the MMTC. In total, the Akoin team estimates that over $5 million in transactions will come from the facility using AKN tokens.
According to the announcement, AKN utilization should increase to cover the estimated 20,000 MMTC workers expected by December 2021. By the end of 2022, the Akoin team says AKN will be the exclusive digital currency of the facility, processing between $1.7 and $2 billion in transactions per year.
As part of the planned Akoin exclusivity within the complex, workers and residents can receive their salaries in AKN. The token will also be used for microtransactions, peer-to-peer money transfers, and mobile airtime top-ups among others.
– Lynn Liss, Co-Founder & COO of Akoin
— Akoin.io (@AkoinOfficial) February 18, 2021
As part of the project, the Akoin team is reportedly releasing a physical card connected to the AKN wallet that will allow users to transact across 40 million global merchant platforms.
For Lynn Liss, co-founder of Akoin, the project plans to use the lessons learned from the AKN deployment in the MMTC as a blueprint for scaling the adoption of the token across the continent.