Grammy-nominated singer Akon throws his weight behind Bitcoin
American rapper and producer, Akon is trending on the internet after speaking out in favor of Bitcoin.
“Nothing backs the dollar. The U.S. doesn’t have natural resources that back the dollar. What they do have is the military.”
Akon further explained people are forced by their governments to use fiats, Fiats currencies have no intrinsic values
explained that fiat currencies have no intrinsic value, but people are forced to use them by their governments.
“Who says that the actual dollar is worth anything? Yes, the government, but nothing backs the dollar. The U.S. doesn’t have natural resources that back the dollar. What they do have is the military,” added Akon.
The Grammy-nominated songwriter went on to emphasize that fiat currencies are extremely volatile because they are directly impacted by government policies. But, when it comes down to cryptocurrencies, they are more stable because they rely on the trust that people put into them.
His views support the major qualities of Decentralization and trustless nature of the blockchain technology.
Akon is set to launch his latest crypto-initiative, Akoin in Senegal with the collaboration of the nation’s president Macky Sall.
Akon is working on creating the Akoin Ecosystem, which aims to unlock the potential of the world’s largest emerging economy with the creation of a trusted cryptocurrency, dubbed Akoin.