The Akoin crypto wallet which has been under a pilot implementation test over the last few months, has been successfully completed.
The Akoin wallet, a brainchild of Senegalese-American hip hop superstar, Akon, was getting implemented at the $2 billion Mwale Medical and Technology City (MMTC) metropolis as the first location in Africa as a use case for the cryptocurrency.
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SEE ALSO: [WATCH] Akon Confirms the Akoin Crypto Use in Kenya and How the Akoin Wallet Works
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According to an official report by MMTC:
“Akoin has been used successfully to perform payroll, shopping, and dining transactions at MMTC as shown in the video below. The Akoin wallet is furthermore being piloted for performing payment transactions at Hamptons hospital since November 2020.
Akoin will be fully implemented at MMTC after the end of the current pilot program in July. By the end of 2022, Akoin will be the exclusive blockchain payment platform at MMTC, performing transactions worth US $ 2 billion per year.”
– Mwale Medical and Technology City (MMTC)
The Akoin wallet can easily convert the following fiat and digital assets into Akoin:
- Kenya Shillings
- USD
- Bitcoin
MMTC will act as the launchpad for the tech to scale across Africa.
Akon City, the next location where Akoin will be used, is currently under construction in Senegal.
Akoin is expected to service over 20, 000 workers within the MMTC metropolis by the end of 2021 pilot test program. The cryptocurrency is expected to enable transactions between:
- Retail stores
- Worker payrolls
- Flight ticketing
- Process payments
The total volume of transactions is estimated to be worth $280 million by the end of 2021. By the end of 2022, the exclusive Akoin platform at MMTC is expected to be transacting between $1.7 billion – $2 billion per year.
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RECOMMENDED READING: Akoin Foundation, in Partnership with Effect AI, to Launch a Blockchain Hub in Kenya in Q4, 2020
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