What Are John McAfee’s Plans for Blockchain Technology?

BlockchainWhat’s John McAfee Doing in Canada Working on Blockchain? 

John McAfee, founder of the computer security solutions provider McAfee Associates, is not exactly known for living the typical business executive life. The globe-trotting, yoga-practicing, libertarian-loving cybersecurity guru has now found himself in Toronto working with Equibit Development Corporation (EDC), a security service for safely issuing shares in companies and protecting trades from hacks, using decentralized blockchain technology.

John McAfee will now serve as the company’s chief security officer.

“We’re honored and thrilled to be working with John McAfee,” said Equibit CEO Chris Horlacher in a statement. “With his input and ongoing guidance, EDC will continue to set the security standard for blockchain services. We share his unwavering commitment to IT security and, with his help, will continue to push the boundaries of what’s possible in this industry.” (Source: “Toronto blockchain security startup hires antivirus pioneer John McAfee as chief security officer,” VentureBeat, November 24, 2016.)

This comes as blockchain technology, and especially Bitcoin blockchain technology, is growing not only in usage, but also in interest from techies and investors alike.

Blockchain, for the uninitiated, is a way to structure data, and serves as the foundation of cryptocurrencies like Bitcoin. The coding consists of interlocking blocks of transactions that allows competitors to share a digital ledger across a network of computers without the need for a centralized authority. The ledger is, therefore, essentially hack-proof, as the code does not allow any single party to interfere with it. This has made it rather appealing to some of the more technologically inclined businesses, as 40 of the top financial firms are experimenting with blockchain tech. (Source: “Wait, What Is Blockchain?” Forbes, May 23, 2016.)

If you think about it, now it makes perfect sense why John McAfee would want to get involved with the security side of blockchain tech. The guy not only made his millions in security software, but he’s also a known proponent of decentralized power structures and has always had an authority-challenging way about him. After all, McAfee ran to be the Libertarian Party candidate in the most recent U.S. presidential election, eventually losing to Gary “What’s Aleppo?” Johnson.