Businessman and crypto advocate John McAfee[1] is releasing his own “fiat[2]” currency backed by cryptocurrency, the McAfee Redemption Unit (MRU), on June 25, according to his tweet from yesterday, May 29.
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[3][4]
— John McAfee (@officialmcafee)
McAfee — of McAfee Antivirus Software — had originally tweeted about his own currency on May 28, including a picture of his face on a fiat bill:
. @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[6][7]
— John McAfee (@officialmcafee)
After local outlet Crypto-News India reported[9] on the fake McAfee “dollar,” McAfee then reached out to confirm that the tweet was not a hoax and that he was serious in his intention to launch his own currency.
McAfee told Crypto-News India in a follow-up[10] that the MRU, or McAfee Promissory Note, will be connected to a blockchain[11] by tokens and can be redeemed for up to 100 minutes — depending on the denomination of the note — of personal time with him at a location anywhere in the world.
In order for holders of the note to redeem it for a personal meeting, they must appear at an address in
