{"id":175872,"date":"2020-11-13T10:35:20","date_gmt":"2020-11-13T10:35:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=175872"},"modified":"2020-12-20T15:15:16","modified_gmt":"2020-12-20T15:15:16","slug":"stellar-based-akoin-can-now-be-used-to-pay-for-groceries-and-gas-in-kenyan-city","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/stellar-based-akoin-can-now-be-used-to-pay-for-groceries-and-gas-in-kenyan-city\/","title":{"rendered":"Stellar-based Akoin can now be used to pay for groceries and gas in Kenyan city"},"content":{"rendered":"

In its first step towards the futuristic Akon City, Akoin<\/a>, the cryptocurrency business that is chaired by global artist Akon, can now be used to pay for goods and services in a west Kenyan city.<\/span><\/p>\n

As per a release shared with CryptoSlate, the move is part of the business\u2019s trial run of the cryptocurrency and will see a select group of residents receive their salaries in the AKN token, and will allow them to use the token to pay for food, drink, gas, clothes and medical services in Mwale Medical Technology City (MMTC<\/a>).<\/span><\/p>\n

\"Akon
Akon with Julius Mwale at Mwale Medical and Technology City in Kenya<\/figcaption><\/figure>\n

The development follows from an announcement earlier this year<\/a> that said Akoin would power the $2 billion MMTC project, home to an estimated home to over 35,000 people and thousands of businesses.<\/span><\/p>\n

Akoin to initially monitor the trial<\/h2>\n

Akoin and MMTC will be monitoring the trial, which starts later this month, to analyze data, crunch the numbers and prepare for the trial to be scaled up to even more residents in the city in December, before AKN is the only currency used across MMTC in early 2021.<\/span><\/p>\n

Akoin views the trial as the first step towards rolling out the token to other African cities, and ultimately Akon City, the planned Senegalese city named after the global artist.<\/span><\/p>\n

Julius Mwale, the founder of MMTC and a New York-based entrepreneur, outlined his vision for bringing the cryptocurrency to his city at last month's virtual cryptocurrency conference “<\/span>BlockDown 3.0.”<\/span><\/p>\n