John McAfee on crypto exchanges and decentralized alternatives

0:00I'm Ashlyn Addison from event chain for investmentpitch media and FinTech news network and today on blockchain interviews if John McAfee serial entrepreneur presidential candidate for 2020 and founder of the McAfee Dex decentralized exchange John thanks so much for being on the show today thanks for having me I'm very happy to be on you very welcome

0:22let's kick it off by learning a little bit more about the McAfee decentralized exchange it launched in October users hold their own funds no trust is needed to use the platform as a security expert would you advise people from staying away from centralized crypto currency exchanges and stick to decentralized exchanges and how does that affect their privacy well obviously with a

0:44centralized exchange or your privacy is exposed because you have to divulge information and that information depending on the level of its concern to you is what you're risking and we all know especially in financial affairs governments want to know who what when where and why about any transaction so that is your risk there and if you're

1:14happy with that risk then well that's fine for those of you who are not then distributed exchanges so the only way to go number one for people information nobody controls it they can never be shut down ever it's on the blockchain of our logic is on the blockchain that v-necks is just recorded and we have other portals we have over 30 ml but they shut McAfee next down it still

1:42won't change it sources yeah well with but currently crypto currency exchanges that are centralized make up the majority of the volume thing as 20% may be maximum of volumes on decentralized exchanges sorry 20% are decentralized but only 1% is for the volume it really hasn't kicked up what do you think has to happen for this paradigm shift to to move towards that well what what has to

2:09happen is well we are in fact doing and we'll be doing by the second quarter of next year come on the McAfee Dex's is a beta version and we're you know be announced ago we have a reason that the centralized descent is decentralized are not going is because you've crossed chain transactions how do you convert your appearing coins a Bitcoin or you bitcoins to Monera or your own arrow to

2:38see – this is the bubble and that of course is why we're still in beta because we know the solution then we are working on the solution that it will not be done until the end of the first quarter perhaps early second quarter make sure then then the decentralize exchanges will have exactly the same functionality as centralized exchanges without having to log on if your

3:09information and be at the mercy of them going no we're freezing your account because of possibly illegal activity no no that your mmhmm yeah so I guess that one of the major inhibitors right now is the etherium protocol which of course is not fully anonymous can be governed or can be seen by governments is where all of the decentralized exchanges are and

3:35to top that off you can really only trade between aetherium tokens on the decentralized reelin you can't really go to the coin in Mineiro the other coin yeah the reason they started with aetherium is not because that's what we're going to be no way with our logic is going on every block chain we've already added it to tron that came out we can have to go before the end of the

3:56year we're adding it to finance kiosks and neo and we will have them all so no we're not counting on the etherium it's just that if it is a theorem that you're using we cannot I'm afraid fix the problems in the fundamental architectures of the coins you use okay that's not my job was it possible however we'll have it on every chain and

4:24the change that you do trust stay that J definitely and from a privacy perspective I know you recently were on the Monaro talk show talking about Manero and other privacy coins and how they can have the power to to keep your privacy and not have other bodies look into the transactions do you believe that governments will start banning these coins and do you plan on creating

4:50one yourself or integrating that fully into a decentralized exchange of course they're gonna ban the coins people I mean the privacy coins coupled with things like decentralized exchanges remove you from any control and even surveillance from anybody anywhere that scares governments and only let this live however do you care because there's a thing called civil disobedience which

5:22many of you have practiced many times in your life like in America of smoking marijuana in illegal percent McCarthyism sometimes that the repercussions were prison for ten years for just having to join in some states people practice what is called civil disobedience it's a stupid effing law and I'm not obeying it and when they ban privacy

5:51coins which you know protect you from their corruption and they ban you from protecting yourself from their corruption you're gonna say the same thing it's a stupid law I'm not a bank and the beauty of it is if you're smoking weed you maybe can smell it me dog can come in and sniff for it and find out where you have stashed it on your mattress but

6:19not with with pharmacy coins there's nothing to smell nothing to see nothing happening here folks in every household in the world then you tell me how you're going to enforce that's good law totally and there's not much you can do I know you know even with I've seen seizures of you know black coins before I've seen seizures of black workmen ro and the

6:49bodies can't even tell how how many coins there are no problem John so and and sort of the same with you know what they say with Bitcoin and aetherium is you can't really you know you could ban it but you can't unless you turn off the internet how can you prove that somebody's not using the coins since nobody can detect it right yeah so you spoke the magic word there unless you

7:11talk the Internet no listen to this beautiful thing you you know what they talk is this where two parties are [ __ ] we just can't lose but we certainly can't we can't make the albumen do anything well I can American Russia for 25 units well we're approaching rapidly a date talk between our governments and the people who serve the government rather than vice versa well we need

7:41government's a service ought to be servants to so now we have the advantage on our side the technology sprang from us didn't come from a government agency a large corporation though came from ordinary people and know who they are less than a dozen bright geeky but excited of technologists gave us the the schematics for an entire industry which

8:14has blossomed from that much of that industry being dead wood we need to cut off however within that is beautiful and and so yeah we are a threat however the only thing if we're using privacy coins think about this distributed exchanges where nothing can be tracked and no training records kept up anything except the transaction itself who did it so

8:44with that there are only recourse is to shut the internet down since it is distributed throughout the internet and cannot Varick it out or some magic anti biotics like weapon that just eradicated so when they talk to will be very so keep my yeah people we the people we create capital

9:12and capital is no longer all orbitals and buildings although yes that is capital but the important apple this is not our material properties in is our produce and process process second of information knowledge data about and about the in about this people in it won't be producers and it's we who are

9:43clearly reducible I mean we're not desperate to do welcome when do facebook's CEOs office inside here I want all their then they in this company they want the data about us we are people the product we have become the end product of a Mike nourish perversion of democracy and

10:12industry the other content would have the power to change it now and I beg you out there listening please consider this at the least and if you do see something like this are you now going to sit comfortably on your sofa and continue your life of sameness or are you actually going to think about your children grandchildren in the world

10:40you leave them behind and stand up and do something thank you very much for having me on we're out of toilet right no we have one more or two more questions here and I'm sort of curious it okay alright I'm sort of curious about your stance on state coins as an intern solution to avoid going with bag to stable coins oh yeah to avoid going back to fiat currency as

11:05an intern solution however if some of the coins you know are backed by while some of them seem to be backed by thin air but other ones are trying to be backed by commodities that are still based off of the fiat economy and you know if so what do you think that you need to have the proper backing in a stable coin that's not tied to the traditional economy or how does that how

11:30cannot properly work of course we do we have to have be stable once we have some fine ones I'm fond of Dai I think – si I it never bear never various more than 1% from the US dollar up or down no matter what the volume is or the pressure on the by ourselves are though that's magic how the blockchain people it does magical

12:00things so we have to have them otherwise we are always tied to oh my god the markets in flux what do we do we might get wiped out tomorrow and what do we get into is a Bitcoin or gonna survive maybe an area maybe look no screw that drop it in a stable coin go back to work thank you all the same thing of course we have to have I don't know what you got them other than I use var and I'm

12:26not getting paid to say this religious why because it does not ever vary and the cost of of exchanges for nil and it's instant tables why not well a lot of centralized bodies are looking at creating their own stable coins and not just you know companies like like Facebook me kind of stable coin but government stable coins and I guess they

12:55have the ability to create those and put them on the market but unless people adopt them then it doesn't really have any value unless something is actually used by people right absolutely is the thing I promise you that every governmental crypto dollar crypto yet goodness crypto yen already coming out folks when a crypto dollar comes and a crypto pound of euro

13:21there's centralized people and what they are is the block chain concept of cryptocurrency weaponized weaponized into a a powerful microscope that will see and record and even begin to anticipate your every penny that you make or spam this is where that's headed

13:54which is why I'm saying you don't have to use it when they will ban privacy coins just before or maybe just after releasing their own Krypton dollar civil disobedience and you don't have to use it unless somebody comes by with a gun again when saying you come downtown and use it's a crypto dollar don't you going to jail I'm going to happen not even in

14:23the wildest science-fiction so nothing other than you of the conscience and if this goes against your conjugal we back away now because this is a rough road that headlines and none of us are going to get out without a scratch letting it will be the most beautiful experience if we if we fulfill this and carry this on people as a people to take control of

14:55our own money and the Fed can no longer increase the supply therefore diminishing all of your money savings they can't do anything happy monitored a world of exchange because that what this is screw the word Finance screw the word money we're talking about a world where human beings can't exchange freely I mean totally free which has been the

15:25inhibitor of civilization since the beginning of time when you had five chickens and you're sick of chicken soup and want happy and carry your five chicken to the market may take you half an hour and then you're gonna find somebody with the pink and you gonna hope that he wants chickens do you understand the inhibiting effect of Commerce it's not finance we should

15:51be concerned about it is commerce people screw finance commerce is what this society from the bootstraps into the heavens and we have the opportunity to do that now under our control without the meddling influence of people who do not have the true authority given by the people to meddle in this progress of mankind into a new paradigm awesome well

16:26that's great John we're running out of time but I know a lot of people are interested in learning more about McAfee Dex I'm sure they could probably follow your Twitter for your account your new campaign video that came out today I saw that and and I'll put the links to that stuff in the description box below and thanks so much for coming on the show I

16:43really appreciate it and let's follow up in the near future Thank You Ashton and and please if you would send a link when this goes live um anywhere that you know of keeping track of all the bad and good things people say and it's overwhelmingly bad always and that gives me hope that I'm doing the right thing if you'd send the link I'd appreciate it great thank you all

17:08right