John McAfee, a tech guru and CEO of MGT Capital Investments had declared his intentions to work with Cuba’s government as a crypto advisor after the officials revealed their plan to launch a cryptocurrency as part of anti-sanctions package.
“It would be trivial to get around the U.S. government’s embargo through the use of a clever system of currency. So I made a formal offer to help them for free on a private channel… through Twitter,” he said.
According to John McAfee, adaptation of a crypto appropriate to local circumstances is the key to Cuba’s coin success.
“You have to base it on the proper blockchain, have it structured such that it meets the specific needs of a country or economic situation,” McAfee told.
As a reminder, last week, the Cuban Government announced plans of using crypto as a part of anti-sanctions package aimed to boost incomes of Cubans and assist with market reforms. It remains unclear from the report if Cuba might launch its own token or use existing alternatives.