Crypto enthusiast and security pioneer, John McAfee, has stated intentions to launch his cryptocurrency named, the McAfee Freedom Coin, this fall.
This news was confirmed in a Twitter post on May 29. The McAfee Freedom Coin as disclosed by McAfee, will not be launched through ICO, mined or airdropped. He says: “the uniqueness comes from a new approach to understanding the evolution of cryptocurrency and the mechanisms that have kept the Holy Grail of cryptocurrency – economic freedom – out of our reach.”
McAfee reportedly listed properties a cryptocurrency should have, which according to him is seen as:
“What is needed is a coin disconnected from fiat currencies and from other crypto currencies alike — a coin with zero cash-in value, yet accepted universally … 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.”
He also envisions a crypto market free from the “fear of greed, manipulation and the vagaries of external economic conditions.”
McAfee hopes to create a crypocurrency that will be valued based on its purchasing power, which he seeks to achieve by eliminating the exchange value of his proposed Freedom Coin. McAfee therefore stated:
“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.”