Well-known and controversial security pioneer, cryptocurrency enthusiast John McAfee will launch its eponymous token, McAfee Freedom Coin, this fall.
A white paper in the currency will be released soon. On its official website, McAfee said the currency is not subject to the relative pricing mechanism of other legal tender or digital assets.
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“The McAfee Freecoin was originally designed to respond positively to the redemption issue. It is not based on any merchandise or on the value or behavior of any external item or entity. If it is related to other currencies, the value of this currency is always zero. But in fact its natural market value is completely free to grow."
The ultimate goal is to create a cryptocurrency market that is far from “fear, greed, manipulation, and changes in external economic conditions”. By eliminating the exchange value of free currency, McAfee hopes to create the first digital currency that can calculate value based solely on purchasing power.
“The reason for this is that we are not able to buy all the goods and services in cryptocurrency, so the holder must exchange their own currency for the currency that can be used for purchase.”
In a subsequent tweet that was deleted, McAfee said that in order to achieve this goal, "free currency" will not be issued through ICO, there will be no mining or airdrops, and it will not be online cryptocurrency exchanges. This may be related to the SEC (United States Securities and Exchange Commission) disagreement because of his earlier support for ICO.
McAfee says that although the underlying technology of the free currency doesn't have much innovation, "but its uniqueness comes from a new way of understanding the evolution of cryptocurrencies and the sacred dream of cryptocurrencies – economic freedom."
Many Twitter users have made a relentless evaluation: "Garbage." McAfee left us with more questions to answer.