McAfee Returns: John McAfee is Now a Crypto Security Startup Adviser
Originally published on: Eastern Caribbean Central Bank Pilots Blockchain Initiative with Bitt Inc.
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March 17, 2018
John McAfee’s name has been immortalized in the antivirus that carries his moniker, historically his most exceptional contribution to life online. He has also been extensively involved as a cryptocurrency enthusiast with no small amount of clout.
McAfee suddenly disappeared from the spotlight towards the end of January 2018 after what some see as an acrimonious severing of ties with MGT Capital Investments Inc. He had been serving on their board since August 2017 as Chief Cybersecurity Visionary of MGT.
Channeling his expertise into a different avenue
The decision by both parties to part ways was official “totally amicable,” said Robert Ladd, MGT CEO. He did add that MGT was “… getting some feedback that in order to get uplisted etc. it might be easier to not have John McAfee be an officer or director of the company.”
McAfee had also said the decision was mutual, at the time, although it presented as an unusual and abrupt hard fork from previous statements.
McAfee has now joined CryptoSecure as senior strategic adviser according to a March 14, 2018, press release. The company claims to offer “hackproof security solutions” for the virtual coin fraternity. A diversified parent company, Key Capital Corp., with interests in cancer treatment, FinTech and precious metal mining, is overseeing development at the CryptoSecure startup. Key Capital shares, traded over the counter, surged nearly 400 percent after the press release. CryptoSecure is currently preparing for an ICO.
The company release stated that “Mr. McAfee met the CryptoSecure team on a recent Blockchain cruise conference at which he was the keynote speaker.” Outlining the history of the association, he went on to add that “During an early morning discussion on the security deficiencies of the cryptocurrency market, he was apprised of CryptoSecure’s military-grade hybrid blockchain, Trusted Solaris OS, One Time Pad infrastructure project.”
Decentralized security is McAfee’s new focus
McAfee had initially resigned as CEO and Chairman of MGT during 2017 as part of an internal company shuffle. The cybersecurity outfit that changed tack to focus on bitcoin mining then said in January 2018 that the upshot of it all was that McAfee and the company were parting ways. Neither the former Chief Cybersecurity Visionary nor MGT itself would say anything else besides putting an amicable spin on the fallout. McAfee had occupied the revamped role at MGT since August 2017.
In his position at MGT, McAfee had been steering MGT’s cybersecurity development, including the rolling out of Sentinel, the enterprise-class network intrusion detector that was released in October 2017. He was also working on a previously much-feted privacy phone that sported extreme security measures and would ostensibly be unhackable. The board of MGT is considering various routes to enable its ambitions, including a spinoff or a sale.
Another ICO McAfee recently became affiliated with is Skraps, a micro-investing application that allows users to invest their spare change in varying cryptocurrency portfolios. According to the website, he is listed as the company’s “senior strategic advisor.”
With cryptocurrency and blockchain technology becoming a popular business model worldwide, John McAfee’s new focus in distributed ledger security may prove to be a pivotal one for his career.