Internet security John McAfee has been busy lately. He has made his love of cryptocurrencies clear by backing BeatzCoin and speaking out about how cryptos free us from financial slavery,
Now, he has announced his new crypto exchange, called McAfee DEX. This is a decentralised exchange with a strong focus on privacy.
The Facts about McAfee DEX
McAfee revealed the plans in a number of tweets to his followers. His interesting statements about this exchange mention that “nothing is monitored”. He also said that there are “no restrictions” in place on the platform.
McAfee has spoken out in the past about how digital currencies can free us from government control. With this in mind, he said that signing up here requires “no name, no documents, no email”. He also confirmed that no bank information is needed either.
The McAfee DEX exchange has recently opened in beta. It will run on the Ethereum blockchain. In addition, it will support all of the different ERC-20 tokens on the market. The man behind it said that any token on the Ethereum network can be listed by anyone for free.
He promised that absolutely nothing that happens on McAfee DEX will ever be monitored. Neither will exchange activity be recorded or restricted in any way.
Why Did He Do This?
John McAfee has spoken out in the past about the control and the power given to governments by financial institutions and fiat money. He has pointed out that the authorities could shut them down at any time. This would leave the public in the dark about what is happening.
With a decentralised platform like his new exchange, this cannot happen. There is no central authority who has overall control of it.
What is the biggest selling point? As far as its creator is concerned, it is the lack of government control. He says that people can now truly control their own financial life without the fear of government interference.
Are people truly as concerned with their financial privacy and freedom as John McAfee is? Or do they prefer to see some level of control and regulation when moving around their money? We will soon see whether they are attracted to this idea of completely unrestricted and unmonitored activity, or not.
It will certainly be interesting to see whether this new exchange can challenge existing platforms. Can it take on the likes of Binance and eToro in the market and win?