The American/UK famous security pioneer and cryptocurrency promoter, John McAfee, is set to launch his own cryptocurrency, the McAfee Freedom Coin.
The website of the Freedom Coin which currently have less information on it, is also without white paper but have remarks by McAfee saying that the coin is not subject to relative price setting mechanisms of other fiat currencies or digital assets.
“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 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 said.
Looking at the cryptocurrency world today with “manipulation, greed, fear, 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.”
Looking at the technology of the coin, he said “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.”
In subsequently deleted tweet McAfee said, Freedom coin will not launch an ICO, will not be mined or airdropped, and will not be listed on crypto exchanges, which is believed to be fear in relation to his previous issue with the SEC that prohibits him from promoting ICOs according to one report by Cointelegraph on June 20, 2018.