A FIAT Currency, Backed By Crypto, Launched By John McAfee?

. @SmartPayMINT sent this. What's odd is that tomorrow night I am going to make an announcement of the new "McAfee Coin", based on a radical new concept: Fiat currencies (collectible) backed by crypto - the reverse of what banks are attempting. Seriously. pic.twitter.com/3uTHHKG18M

— John McAfee (@officialmcafee) May 29, 2018

Sorry if it took you a little moment to read the title, I suspect you had to run over it a couple of times. As you know, many cryptocurrency communities are on the hunt for a true cryptocurrency, basked by FIAT currencies that can hold an intrinsic value and become a decentralised alternative to the US Dollar, the Pound, the Euro etc. It is rare that we see the reverse to this; i.e. a FIAT currency backed by crypto. John McAfee has recently suggested that this Is something he could be working on. As a concept, it works, right? But doesn’t it all seem a bit mad, a little bit fast? In this tweet, McAfee has said:

“What’s odd is that tomorrow night I am going to make an announcement of the new “McAfee Coin”, based on a radical new concept: Fiat currencies (collectible) backed by crypto – the reverse of what banks are attempting. Seriously.”

What on earth is this all about? Launching a brand-new FIAT currency, overnight and seemingly keeping it a secret until the day before is quite an incredible feat, even more so when you consider McAfee’s notoriety. Of course, I suppose it is possible, but it does seem a little unrealistic. Therefore, I’m not sure that this is truly a case of a brand new “McAfee Coin” and that this perhaps, is an announcement prior to another announcement, in which McAfee may announce details of a new project he is working on. In short, I can’t see how this is a fully working concept, just yet. You never know though, maybe McAfee has done something incredible here? Overall, we should wait and see what happens here before we pass any judgement. This could literally just be a case of McAfee being bored and wanting to stir up a bit of a Twitter storm. This is unlikely though, McAfee has a great reputation to uphold and therefore, we do expect something to materialise from this. As it stands though, we can’t even begin to guess what is going to happen next. For now, we’ll watch McAfee’s Twitter page for more announcements, report back tomorrow, for more. Hopefully…