Akoin (AKN) coding project developed by Senegalese-American singer Akon has completed the beta phase for deployment at the Mwale Medical and Technology City complex in Kenya.
As previously reported by Cointelegraph, the beta phase was launched again in November 2020 around the time AKN was listed on the Bittrex cryptocurrency exchange.
After a successful initial beta, Akoin’s crypto is now ready for full deployment in a $ 2 billion pool in July.
Commenting on the success of the pilot program, Akoin President and co-founder Jon Karas revealed that the start of the app was met with “great enthusiasm”.
Once fully deployed, the Aga Khan Development Network will be available for adoption among 5,000 hospital workers, 2,000 dealers, and over 35,000 MMTC residents. In total, the Akoin team estimates that more than $ 5 million in transactions will come from the facility using AKN tokens.
According to the announcement, the use of AKN should increase to cover 20,000 MMTC workers expected by December 2021. By the end of 2022, the Akoin team says AKN will be the facility’s exclusive digital currency, as between $ 1.7 and $ 2 billion in transactions will be processed each year.
As part of the Akoin exclusivity planned within the complex, workers and residents can receive their paychecks at AKN. The token will also be used for micro-transactions, peer-to-peer money transfers, increased mobile airtime, and more.
Lynn Liss, Akoin Co-Founder and COO
Read more: https://t.co/zHQ7xjtRWY pic.twitter.com/sLpAGhQJvS
– Akoin.io (@AkoinOfficial) February 18, 2021
As part of the project, the Akoin team is said to be launching a physical card connected to an AKN wallet that allows users to transact across 40 million global merchant platforms.
For Akoin’s co-founder Lynn Liss, the project plans to use the lessons learned from AKN’s deployment in the MMTC as a blueprint for expanding token adoption across the continent.
In fact, Akoin is the planned official currency for the future city of Akon currently being built in Senegal. The Akon Foundation is also developing a blockchain incubator at MMTC.