Increasingly, more and more companies are joining the cryptocurrency bandwagon. The latest one to join the list is McAfee. John McAfee is planning to launch his own cryptocurrency. There have been rumors in this regard for quite some period of time. Recently, however, he confirmed on his Twitter handle that he will indeed be launching a cryptocurrency. The name of the cryptocurrency will be McAfee redemption unit. The date of the launch will be 25th June.
Details of the cryptocurrency:
There are some other details of the cryptocurrency which are currently present. The cryptocurrency will be printed on paper unlike some of the other cryptocurrencies. It will consist of all graphs which are printed on paper. As a result, there will be proof of the cryptocurrency as well.
A large number of details, however, were not revealed about the cryptocurrency. That is why prospective investors still do not know anything about the valuation of the cryptocurrency or how it will work.
According to limited information available, whenever the currency papers are actually converted into coins, the cryptocurrency exchange on the digital platform that is only when the coins become activated. Thereafter, the notes will have to be reverted back to the organization. It is still not clear which is the method which will be used in order to revert back to these notes. Sure enough, McAfee is taking a unique approach when it comes to launching the cryptocurrency. That is why he is printing it on physical paper as well. Only time will tell whether such an approach is actually successful or not.
Self-promotion:
John McAfee is famous for creating the anti-virus software known by the name of McAfee. McAfee is also popular among the cryptocurrency users. The reason for this is that it can easily detect various malware. That is why any announcement by McAfee regarding the launch of a new cryptocurrency is bound to get attention. Some weeks back McAfee also predicted Bitcoin reaching $1 million value by 2020.
In addition to that, in his individual capacity as well, he has a lot of impact on the cryptocurrency industry. He charges $ 100000 for each and every tweet pertaining to the cryptocurrency industry. When you look at the larger picture, you will realize that this is actually not a very significant amount. However, on its own, this can be said to be a significant amount.
It remains to be seen when the details of the cryptocurrency are released. For now, however, very limited details are available which will just make the investors more curious about the cryptocurrency.
