In July 2017, antivirus pioneer John McAfee tweeted a link to McAfeeCoin.com. Today, we’re preparing for the McAfee Coin ICO. Find out everything you need to know today in our review.
What Is McAfee Coin?
McAfee Coin is a digital token created by antivirus pioneer – and vocal cryptocurrency supporter – John McAfee. McAfee first announced the digital token in July 2017, when he tweeted a link to the official website.
Now, the website has been updated with more information about the MCF ICO.
The website is the official online home of McAfee Crowdchain Accelerator, Inc., also known as McAfeeXL. It’s a startup accelerator with an ecosystem that revolves around McAfee Coins, or MCF.
The goal of the token is to help source crowd wisdom for investment decisions. McAfee Coin is essentially a digital token for an investment firm. That firm is led by John McAfee, a VC fund manager named Yale ReiSoleil, and a fintech specialist named John Zhu.
As the front page of McAfee Coin’s official site explains, “the venture capital system is ready to evolve.” That’s where the developers see an opportunity.
What Problems Does McAfee Coin Seek To Solve?
The developers of McAfee Coin believe there are crucial problems in the world of modern venture capital funding. VC funding has been an important force over the last 30 years. However, the industry is ripe for a change. Here are some of the problems that McAfee Coin has identified:
- There’s an overall increasing failure of the system to deliver on promises, and these failures are being swept under the rug
- More venture-backed startups fail than succeed; many of these startups have good ideas and a good plan, but they don’t’ receive the attention, guidance, or support they need from VC firms
- Unless a startup is among the top 10% of ongoing performers a venture fund has invested in, it’s highly unlikely they will be supported at all
- On the investor side of things, VC funds aren’t great at providing returns; the McAfee Coin website claims that “for more than a decade the stock markets have outperformed most of them, and since 1999 venture capital funds on average have barely broken even”
How Does McAfee Coin Work?
John McAfee and Yale ReiSoleil believe they can solve the above problems and revolutionize the world of venture capital. The key technologies behind their platform are MCF and IOB, described as “more than just crypto-assets.” These two digital tokens “represent the next generation of venture capital funding.”
MCF are McAfee coins. As an MCF token holder, you play a role in the investment firm’s crowd-based investment decisions.
IOB represent a stake in the company’s cryptocurrency investment fund – similar to how you’d invest in any ordinary investment fund.
McAfee Coin throws one more acronym at investors: CWB, which stands for “Crowd Wisdom Bots”. The company plans to use CWBs to increase profitability across the fund.
These three technologies play a crucial role in Crypto Capital Funds, which work as a type of crowdsourcing campaign for fundraising. With the help of CWBs, McAfee Coin will ensure startup companies are receiving the right amount of investment at each stage of their growth – they’re not necessarily seeking to raise the maximum amount of money all the time.
Obviously, that’s a problem with today’s ICOs. Some of these companies raise over $10 million in just a few hours. Others blast past even their ambitious fundraising caps. Teams are left in charge of more money than they know how to spend, and this can lead to problems throughout the growth of the startup.
Who’s Behind McAfee Coin?
McAfee Coin is led by Co-Founder and Director John McAfee, Co-Founder, Chairman, and CEO Yale ReiSoleil, and Co-Founder, Director, and COO John Zhu.
McAfee is best known for his work in cybersecurity. He launched the world’s first antivirus program back in 1989. He also ran for president of the United States in 2016 as a candidate for the Libertarian Party, among other newsworthy endeavors.
Meanwhile, ReiSoleil is a private equity fund manager and quantitative trader who co-managers Sichuan Hongjian Medical Fund, a 20 billion CNY acquisition fund. Zhu is a financial expert specializing in banking and insurance technologies.
In July 2017, the three co-founders established ReiSoleil McAfee Zhu Ventures, LLC (RMZ). The company is headquartered in Hangzhou, Zhejiang, China.
McAfee Coin Features
Here are some of the key goals and features of McAfee Coin:
Hands-On Mentorship Through An Accelerator Program:
McAfeeXL aims to create a worldwide network dedicated to helping entrepreneurs succeed. Some companies may need no more than seed funding, while others will go through several rounds.
AI-Based Investment Systems:
McAfeeXL emphasizes that it’s a tech company. MCF owners and thousands of other community contributors help build proprietary, blockchain-based AI investment decision engines.
Investment Community And Social Investing:
McAfeeXL also emphasizes that it’s an investment social network. The crowd becomes the beneficiaries of the attention economy, being rewarded with MCF.
McAfeeXL has a feature called the McAfee Internet of Bi Crypto Capital Fund I, which is described as “the crypto capital (CC) arm of RMZ, a Swiss-based CC fund that is the first China-focused fund raised via an ICO.”
McAfee Coin ICOs
McAfee Coin is launching two ICOs, including one for MCF tokens and the other for IOB tokens.
- MCF Tokens: These are McAfee Coins. They represent a stake in a crowd decision-based investment platform.
- IOB Tokens: These are Internet of Bi Crypto Capital Fund tokens, which represent a stake in the company’s digital asset investment fund.
Further information about the ICOs has not yet been announced online.
McAfee Coin Conclusion
McAfee Crowdchain Accelerator Inc., also known as McAfeeXL, is an investment fund that aims to function similar to venture capital funds, in that it provides support to startups. The fund will focus on blockchain and cryptocurrency-related startups.
One of the unique features of John McAfee’s investment company is that investment decisions are made in partnership with the crowd, including “Crowd Wisdom Bots”, or CWBs. The crowd is rewarded for making investment decisions, and everyone benefits when the fund earns money.
To learn more about the unique project, visit McAfeeCoin.com today.