When you’re one of the greatest personalities in any field, there’s almost nothing that you can’t do. And John McAfee, the most controversial and popular figure in cryptocurrency space, seems to be leveraging the same position. There’s no doubt in the fact that McAfee is the most popular figure in cryptocurrency space, and the 73-years old cybersecurity expert has been leveraging that position since a long time. During early days he leveraged it by doing paid endorsements, and now it looks like he is trying to develop a cryptocurrency ecosystem of his own. A few days ago he launched his own crypto debit card and now he has announced a new coin in his name!
That’s right. John McAfee just made the announcement of a new cryptocurrency called McAfee Freedom Coin that will be launched later this year. The basic idea behind the coin is to make it universally acceptable as a means of exchange like fiat currencies by making it unlinked to any other store of value, just as is the case with fiat currencies. Here’s what official website of McAfee Freedom Coin says:
“The McAfee Freedom Coin is designed to confront the problem of exchange head on, using a unique paradigm and a new structural concept. It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet it’s natural market value is free, completely, to grow.”
So, this new coin won’t be like a stablecoin linked to any fiat currencies or anything else, and therefore its value will be driven solely by market forces. The website further states that the McAfee Freedom Coin is actually not any technological breakthrough. Instead, it’s a very simple concept coupled with a new approach to bring “the Holy Grail of cryptocurrency” – aka economic freedom – into our reach.
It’s also worth noting, however, that this is not the first time when John McAfee is talking of launching a cryptocurrency. He had also spoken about launching a McAfee Redemption Unit last year in May, but that thing didn’t come to life. So now it will be interesting to see how when this coin is launched by him. The website is promising a launch in Fall of 2019, which means sometime between September – December. Let’s see!