One of the most popular crypto advocates and a legendary businessman, John McAfee, is set to release his own “fiat” currency that will be backed by cryptocurrency. It will be called the McAfee Redemption Unit (MRU) and it is set to be published on June 25th, according to his tweet.
No hoax. The "McAfee Redemption Unit" is real and coming in 26 days. The graphic is low res – don't want to give much away yet. Printed on currency paper, holographs on both sides, serialized, linked to the blockchain, redeemable, convertible, collectiblehttps://t.co/ySUwkDuW7s pic.twitter.com/75xTje39X8
— John McAfee (@officialmcafee) May 29, 2018
McAfee is known for his product, the McAfee Antivirus Software. He originally tweeted about his own currency a couple of days ago, when he first unveiled a picture of him on a fiat bill. The tweet can be seen below.
. @SmartPayMINT sent this. What's odd is that tomorrow night I am going to make an announcement of the new "McAfee Coin", based on a radical new concept: Fiat currencies (collectible) backed by crypto – the reverse of what banks are attempting. Seriously. pic.twitter.com/3uTHHKG18M
— John McAfee (@officialmcafee) May 29, 2018
McAfee is trying to convince everyone that this is not a hoax – and is serious in his intention to launch his own currency. As he told Crypto-News India in a discussion, the MRU will be connected to a blockchain by tokens and can be redeemed for up to 100 minutes depending on the denomination of the note.
He also stated:
“My followers are are hugely loyal and I feel certain that many will go through time and huge expense for the opportunity to spend private time with me. See what this might do to the fundamental value of each redemption unit. If the value of a unit is based even remotely on the cost of redemption, which people are willing to pay, then the notes will immediately skyrocket. But the big key is in the way I have structured the auction sites.
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Cannot tell you more now.”
McAfee notes that 341,000 different denominations have been already printed and there are 6.05 million redemption units. Each MRU is worth $9.95 and the printing plates for the currency have been destroyed in order to prevent printing of any additional bills.
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