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John McAfee Backs BeatzCoin IEO and Calls Fiat Money “Slavery”

26 September, 2019 By Robert Bell

Controversial programmer and online security expert John McAfee has been active on social media lately. He is the founder of the company that created the first commercial antivirus program, Now, he has spoken out on two different cryptocurrency issues. These are BeatzCoin and the freedom offered by digital money.

John McAfee describes fiat currencies as a form of slavery
Image courtesy of Shutterstock

What Is the BeatzCoin IEO?

This project will revolutionise the music industry. It ensures that artists are able to retain ownership of their work so they earn more money. Users access music and videos that are uploaded directly to the VibraVid network by artists.

YouTube and Netflix have seen their revenues grow greatly. Meanwhile, the amount earned by artists has failed to increase in line with this.

The Tron blockchain network will run the platform and Probit cryptocurrency exchange will ruin the IEO. This has a start date of the 30th September. It will use a token called BTZC and the initial exchange rate is listed as $0.02 for each coin.

In a video posted online, McAfee said that “art and music are the expressions of the artist’s soul and heart”. His Twitter video on the subject of BeatzCoin pointed out how the blockchain can be used to empower musicians.

His Comments on the Liberation Offered by Cryptocurrencies

John McAfee is an established supporter of digital currencies, as he believes that they could change the world. His latest Twitter comments state that the blockchain lets us escape from government control.

He said in a video that our dependency on currencies issued by central authorities is a type of slavery. After this, he pointed out that “governments fear cryptocurrencies”. McAfee used the criminalisation of these currencies in some countries as proof of this.

The programmer said on the video that fiat money is a “means of keeping people in slavery”. He then went on to state that cryptocurrencies give us a way of breaking free. In his opinion, this liberates us from “financial oppression and control”.

McAfee’s comments are sure to raise eyebrows around the world. The official reaction to projects such as Facebook’s Libra has shown that many governments are indeed wary of cryptocurrencies. However, not everyone agrees that this is for the reasons stated in his video.

Another possible reason for the need to control fiat currencies is to maintain stable economies. Either way, the rising interest in digital money means that this debate is likely to carry on for some time.

As for BeatzCoin, the backing of McAfee is another boost for this project. With 1.2 billion tokens for sale in the trading event, they will be hoping to start off strongly.