John McAfee to build cryptocurrency for Cuba?
- Cuba wants to build its own crypto to work around the economic sanctions imposed by the U.S.
- McAfee believes that this is a large scale, real-world application for cryptocurrencies.
John McAfee, the cybersecurity expert and tech maverick, announced that he is open to working to with Cuba’s government as a crypto advisor. McAfee declared this as soon as Cuba revealed that they are looking to develop a cryptocurrency to avoid economic sanctions imposed by the United States.
McAfee added that the project is so simple, that he is willing to do it pro bono:
“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.”
McAfee also took to Twitter to express how this situation is a large scale, real-world application for cryptocurrencies:
“Cuba is planning to use Cryptocurrency to get around the 63 years of economic strangulation imposed upon 14 million Cuban people by the insanity of the U.S. Government. Finally, a large scale, real-world application for Cryptocurrencies. If Cuba wants my help, I am here.”
Venezuela had earlier created their own crypto called Petro to work around U.S. sanctions. McAfee insisted that the key to the successful deployment of Cuba’s crypto will be to adapt it to its reality as a country:
“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.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
