Cryptocurrency influencer John McAfee sat down with Nick Hellmann for an interview on Hellman’s YouTube channel “Learn Crypto.”
McAfee has confidently declared that the Bitfi cryptocurrency wallet he has developed is “unhackable.” McAfee even offered a $100,000 bounty which was subsequently upped to $250,000, to any hacker who could breach the device.
Some hackers claimed to have completed the task of hacking the Bitfi wallet, by manipulating the device to play a video, but McAfee says these attempts do not count because the hackers were not able to access the coins.
McAfee says the coins are safe because there is no memory for hackers to access. He explained that with no memory there is nothing for the hackers to access. In classic McAfee fashion, he added some spice to the device’s description.
“There is no memory on the device… Root access through the device with no memory is like having, you know, all the condoms in the world with nobody to f—k. It’s meaningless.”
McAfee’s doubling down comes as no surprise to anyone who is familiar with the maverick tech security developer. But McAfee says the wallet’s security is made possible by blockchain technology itself.
“We have done something unique, we have used the blockchain for what it was intended for. It is a distributed, immutable ledger. Immutable meaning unchangeable.” McAfee went on, “We’ve used the blockchain as our memory.”
McAfee also took shots at the traditional centralized means of storing and sharing not only financial assets, but the strong and movement of data and information.
“What does it mean to have no memory? It means there’s nothing to hack. If you hacking something, you’re hacking data. Are you not? If you steal data from the Office of Personnel Management like someone did two years ago and took every single record of every employee of the US government of the past 50 years, you took data.”
McAfee’s claims that the Bitfi wallet is 100 percent hacker proof is a bold one. If McAfee is correct, then he and the team at Bitfi have applied the blockchain as “memory” or a way to store information, and have displayed how blockchain technology can impact all aspects of data storage and movement.