Jun 5 / 2019

John McAfee launches cryptocurrency

The McAfee Freedom Coin will pursue economic freedom from fiat and other digital currency

Crypto-enthusiast and maverick John McAfee has announced the launch of his own cryptocurrency through a series of tweets.

ai blockchain John McAfee launches cryptocurrency
John McAfee on stage during the Malta A.I. and Blockchain Summit 2018.

The currency, which will be called the McAfee Freedom Coin, aims to be ‘disconnected from fiat and other cryptocurrencies’ and will pursue ‘economic freedom’. Freedom coin will not be launched through an ICO, will not be mined or airdropped, and will not be listed on crypto exchanges.

“The McAfee Freedom Coin is designed to confront the problem of exchange head-on… It is not based on any commodity nor is it connected to the value or behaviour of any external item or entity. The value of the coin will always be zero in relation to any other currency yet its natural market value is free, completely, to grow,” McAfee wrote.

A bit of a wild card in the blockchain industry, McAfee believes this is part of a greater vision of a cryptomarket detached from the “fear, greed, manipulation and the vagaries of external economic conditions.” By eliminating the exchange value of the Freedom coin, McAfee hopes to create the first digit currency valued for its purchasing power alone.

“The reason such has not occurred is that all goods and services cannot yet be purchased with cryptocurrency, so the currency holder must exchange with a currency that is accepted for what they want,” said McAfee.

The launch of the coin hints at a possible 2020 presidential run, an idea McAfee has floated in a number of interviews. Whether his open admission to not paying tax for the last 8 years will hinder his ambitions remains to be seen.

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