John McAfee, Founder and CEO of MGT Capital Investments has recently announced the desire to launch his own currency, dubbed McAfee Freedom Coin, this fall.
“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,” McAfee wrote on the currency’s webpage.
According the webpage, McAfee’s coin is not subject to relative price setting mechanisms of other fiat currencies or digital assets. By eliminating the exchange value of the Freedom coin, McAfee hopes to create the first digit currency valued for its purchasing power alone.
Freedom coin will not be launched through an ICO, will not be mined or airdropped, and will not be listed on crypto exchanges, McAfee said in a subsequently deleted tweet.