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John McAfee: Crypto Frees Employees from “Subtle and Refined Slavery”

The founder of software company McAfee Associates has suggested that blockchain and crypto have given new freedoms to the working community whom he sees as “hired slaves”.

Giving an interview at the recent CoinsBank Blockchain Cruise event, John McAfee claims that blockchain is creating a “permissionless” society, freeing employees from a system of a “subtle and refined slavery”.

McAfee asserts that the current status quo is one which restricts the individual from fulfilling the requirements of enforced regulations at every step, arguing that a largely decentralized society would enable employees to fulfill their potential. He argues, “We live in a system of permission. Every legislation, every law, every regulatory agency, every regulatory body, is designed to control our thoughts or actions or movements.”

He gave the example of cryptocurrency as an illustration of how a new found financial freedom can be utilized by removing middlemen who profit from the established systems put in place by large institutions:

“If you want to send Bitcoin, Ethereum or Monero, who do I have to ask? Only the peer… We are creating a permissionless society… We are not slaves for our jobs, we are not slaves to the government, we are slaves to the entire system.”

McAfee’s views are shared by many and have become the driving force behind cryptocurrency adoption on both an individual, and more gradually, at a governmental level, as more nations begin to review outmoded and restrictive methods of conducting financial services. The adoption of blockchain technology is far-reaching and is beginning to make an impact in all sectors across the globe. A new World Economic Forum (WEF) report indicates that blockchain has the influence to transform the global trade industry:

“Paper-based, manual processes, some created centuries ago, lead to complexity and delays, introduce errors and risks, and stand in the way of reliable, real-time information gathering and tracking required for credible financing decisions.”

Michele Orzan, digital leader of WEF Europe, maintains that it is government services which could benefit the most from blockchain, followed by public and civic leadership. This would have a major impact on solving social issues globally, as can already be seen by numerous projects on the African continent where lives are being changed for the better, through social projects backed by blockchain.

 

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