JOHN MCAFEE: I will make the cloud ‘obsolete’

John McAfee
MGT Capital Investments Inc CEO John McAfee. John McAfee

In an interview with Business Insider on Friday, recently named MGT Capital Investments CEO John McAfee said his new company is going to be a “world powerhouse of cybersecurity” and that his “past record should speak for itself.”

According to McAfee, investors should look past the fact that his company only generated $14,000 in revenue in the first half of last year, and had no revenue to show for it so far this year.

McAfee says his company is a startup and that next year it will generate “substantial revenues.”

McAfee points to one of MGT’s recent acquisition, Demonsaw, which is the creation of Eric Anderson, better known as Eijah in the hacking community. Anderson is the artificial intelligence programmer behind Rockstar Games’ Grand Theft Auto V.

“If you download it [Demonsaw] and look at it you will see the next iteration of the internet,” McAfee said.

“It is not simply a file-sharing, or messaging, or emailing, or communication app. It is the architecture that should have been the internet. A distributed non-peer-to-peer system that will make the cloud completely obsolete.”

Specifically, McAfee took aim at Dropbox, a cloud storage and file syncing company, which last raised cash at a valuation of $10 billion in January 2014, and is said to be considering an IPO in 2017.

“If I were the people at Dropbox and I had downloaded Demonsaw, I would be selling my stock and getting into a different business because we will replace all of that,” McAfee concluded.

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