John McAfee’s new company MGT Capital Investments plans to release blockchain security products as it hires Roger Ver and ShapeShift’s Erik Voorhees as cryptocurrency advisors.

John McAfee, chairman and CEO of MGT Capital, has established a Cryptosecurity Advisory Board. As the Board’s chairman, he appointed Roger Ver, prominent bitcoin angel investor, owner of and bitcoin donator. The first member of the Board became Erik Voorhees, founder and CEO of the bitcoin and altcoin exchange, who has been previously involved in a variety of bitcoin projects.

“Roger and I both understand that cryptocurrencies are here to stay and that the greatest risk to cryptocurrency users is the uneven security surrounding these currencies. Even the most experienced Bitcoin user, for example, risks financial loss if a clever hacker targets them. Key loggers and screen capture spyware – which can easily be planted on mobile device or laptops by simply visiting a website, among other simple means of infiltration – can override most security features of existing wallets. If these types of cyber threats are not remedied, the world risks financial chaos as cryptocurrencies are widely adopted,” commented John McAfee on the appointment. 

He believes that the blockchain technology creates a more secure way for transactions verification but the recent attack on ShapeShift and the case of bitcoin exchange Mt. Gox showed that a business built on blockchain tech is also exposed to attacks.

According to Voorhees, McAfee is right in his vision that cybersecurity and cryptocurrencies are “intertwined”:

“Blockchain assets change the nature of cybersecurity from protecting personal information, which is now less important, to protecting digital wealth, which is increasingly important.”

As the press release reads, the Cryptosecurity Advisory Board “will ensure that MGT remains current in the protection of this critical field and provide the most state of the art products to its customers”. However, the Board will be only one part of the prospective MGT Capital’s cryptocurrencies division.

As of now, the company works on D-Vasive, a provider of anti-spy software, and Demonsaw, a provider of secure and anonymous file sharing platform. In the near future, the company will be renamed as “John McAfee Global Technologies”.

John McAfee was appointed as chairman and CEO of MGT Capital in May, which caused a short-time 1,000% surge in the price of the company’s stock. Before this appointment, McAfee ran for the Libertarian Party’s presidency.


Anna Lavinskaya