NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Why Uganda chose Stellar Lumens to power the currency of its new city

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Stellar Lumens XLM XLMUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Per a report by NBS Television, Uganda is planning to build a futuristic city. The project has received the green light from the local government and is set to be completed by 2036. American singer of Senegalese origin, Akon, has been awarded one square mile of land to carry out the project.

To be named “Akon City” it will use a cryptocurrency based on Stellar Lumen’s blockchain to power the economic sector, AKoin. With a similar project to be executed on his native Senegal, the project cost is estimated to be as high as $6 billion.

According to the blueprints on the Senegal city project, Akon plans to build malls, schools, police departments, waste management services, hospitals, and other buildings for recreation and culture. The singer expects to drive and contribute to the development of these countries and “bring opportunities” to its inhabitants.

Akon to build Akon city in Uganda by 2036. The government of Uganda has agreed to allocate him land of the size of 1 square mile. The city will operate on AKoin currency, a stellar-based cryptocurrency. @nbstv pic.twitter.com/G4GHuefZFE

— Canary Mugume (@CanaryMugume) April 5, 2021

Stellar Lumens, the perfect place for AKoin

In a previous post, Akon explained why he has chosen Stellar to issue its Akoin. Claiming that blockchain will help emerging markets, like Senegal and Uganda, the singer believes Stellar will help to strengthen the financial infrastructure. Akon claimed:

Bringing the benefits of blockchain to Africa is our core mission at Akoin. We aim to improve Africa’s financial infrastructure and lower costs by removing intermediaries and increasing transparency.

The end goal is to “lower” economic barriers for all Africans, said Akon. Stellar is a platform with “speed and scalability”, therefore, the singer believes it fits with Akoin uses cases and the applications plans for its ecosystem. Akon adds:

Stellar Development Foundation has also established a wide network of charities that accept Stellar Lumens as a form of donation — and philanthropy is at the core of the Akoin ethos and the Akoin Foundation. These factors (…) make Stellar an obvious choice for Akoin.

XLM is rallying on the 24-hour chart with 18.2% profits. Over the past week, XLM has record 27% gains and 23.6% in the monthly chart.

XLM on a 24-hour rally. Source: XLMUSDT Tradingview
Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

3 nové kryptoměny s 1000 _ potenciálem

3 zbrusu nové kryptoměny, které mohou do října vystřelit o 1 000 %

Kryptotrh je opět v pohybu a investoři hledají nové příležitosti, jak znásobit své zisky. Vedle zavedených hráčů, jako je bitcoin...

Lenka Hanzlíková 2 hours ago
비트코인 채굴자 하루 35만 달러 수익… 페페노드 채굴 솔루션 성공할까?

비트코인 채굴자 하루 35만 달러 수익… 페페노드, 밈코인 채굴의 혁신?

지난 일요일, 한 개인 채굴자가 비트코인 네트워크에서 3.13 BTC(약 34만 7,872달러)를 직접 채굴하는 데 성공했다. 이는 이번 달 들어 개인이 블록체인에서 독자적으로 블...

Soyeon Lee 2 hours ago
Bitcoin

Bitcoin Could Hit $150K By Christmas, Analysts Tell Michael Saylor

According to reports, Michael Saylor told viewers that most equity analysts expect Bitcoin to top $150,000 by Christmas. Related Reading:...

Christian Encila 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin to $200K? Fundstrat’s Tom Lee’s Bold Bitcoin Forecast Fuels Bitcoin Hyper Presale Surge

Bitcoin to $200K? Fundstrat’s Tom Lee’s Bold Bitcoin Forecast Fuels Bitcoin Hyper Presale Surge

Aaron Walker 2 minutes ago
Whales Are Buying Solana: Two Wallets Pull 376K Tokens From Binance

Whales Are Buying Solana: Two Wallets Pull 376K Tokens From Binance

Sebastian Villafuerte 23 minutes ago
ethereum, ethereum koers, altcoins, bull run, eth koers, solana

Ethereum whales en $2,5B Solana vraag zetten september altcoin rally in gang

Lars Diederiksen 2 hours ago

Premium Sponsors

Press Releases

  • 10ドル到達は夢か?プロジェクトが直面する厳しい現実

    パイネットワーク...

    12 minutes ago
  • ChatGPT-5 избира два криптовалутни проекта, които могат да превърнат 100 $ в 1.000 $ до 2026 година

    ChatGPT-5 избира два криптовалутни...

    58 minutes ago
  • ChatGPT-5 alege două criptomonede care pot transforma 500 RON în 5.000 RON până în 2026

    ChatGPT-5 alege două criptomonede care pot transforma 500...

    1 hour ago
  • ChatGPT-5 избира два криптовалутни проекта, които могат да превърнат 100 $ в 1.000 $ до 2026 година

    ChatGPT-5 bira dva kriptovalutna projekta koja mogu...

    1 hour ago
  • Cách Mua Bitcoin Hyper ($HYPER)

    Chuyên Gia Gọi Tên TIBBIR và SAPIEN: Liệu Meme Coin...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.