The American singer and music producer Akon has once again popped up on the computer itself. In a radio interview with the Breakfast Club and spoke to Angela Yee, and DJ Envy about his thoughts on bitcoin (BTC).
He is, of course, is not a leading economist or a futurologist, but his explanation of bitcoin and its potential value, it is a little wrong.
The BTC is a better currency than the Us dollar. It is a fact that computer programmes are dependent on the trust and confidence of the people in the position of the financial system by governments, is imposed, this makes it according to the musician, is much more powerful than any fiat currency in the world.
Who is to say that the actual dollar is worth anything? Yes, the government is, however, nothing backs the us dollar. The US has no natural resources, and the dollars to support it. What they should have been in the armed forces.
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Be Forced By Fiat
He explained that the fiat currencies have no intrinsic value, but people have to be forced to use them by their governments. After all, you are required by your local currency is payable in the country where you were born. This is not a free choice.
In contrast to government-issued fiatgeld is bitcoin, by the people, controlled. Fiat, on the other hand, is a system that is run by a group of central bankers and the government authorities who have no control over, can make decisions behind closed doors, and it doesn’t really stick to one set of rules and regulations.
The songwriter who insist that fiat currencies are not stable, due to the fact that they can be directly influenced by government policy. However, when it comes to cryptocurrencies, they are more stable because they rely on the trust that people have set up.
He’s A Crypto City
The Senegal-born entertainer was announced last year, the new project during a panel at the Cannes Lions Festival, where he and his motives, explaining to the blockchaintechnologie to be used for the improvement of the living conditions in Africa. He’s a Crypto City should be built on trust and confidence in cryptomunten.
At this time, I plan to have a project in that country to start with. This is done not only with the co-operation of the president of the country Macky Sall. The American musician is going to be a cryptostad building, just a few minutes away from the capital city of Dakar, senegal. The Akoin should be the official token of his payment to the city.
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