John McAfee, the attention-grabbing anti-virus software developer, presidential candidate, and cryptocurrency enthusiast, will become the new CEO of blockchain startup Luxcore, according to a report by Coindoo. This marks the latest venture for McAfee, who has made headlines with increasing frequency in recent months for his vocal support of a number of crypto-related projects.

Luxcore

Like many other blockchain startups, Luxcore's branding leaves a fair amount of uncertainty as to its aims and strategies. The company describes itself as one which "focuses on designing and building enterprise ready security and privacy products," according to its official blog. In a tweet announcing the new appointment, Luxcore said that the company is "excited to announced [McAfee] as the new CEO of Luxcore," adding that "John's appointment is part of a massive personnel reorganization designed to drive significant and rapid business growth" for the company.

McAfee first became publicly involved with Luxcore in April, when he was appointed as senior adviser. More recently, former CEO Brian Oliver, who also is co-founder of the company, "has agreed to step down" to be replaced by McAfee.

Looking Forward

According to the report, among Luxcore's plans going forward are the release of a cryptocurrency wallet which will employ address obfuscation and multi-signature transactions as well as a "private, secure network for institutions dubbed 'Parallel Masternodes' and a blockchain unifying system," per Coindoo. Many of the company's services are slated for release later this year.

McAfee announced via Twitter that Luxcore has "been working hard behind the scenes and will soon announce the availability of blockchain features we have all been waiting for." He noted that he would "continue [to] lead Team McAfee on its adventurous journey," referring to his own cryptocurrency and blockchain project.

McAfee added that "Luxcore's rapid development of game-changing technology requires a rapid escalation of business growth. In order to achieve the company's growth targets, there will be a heightened emphasis on strategic marketing products such as the PoS web wallet and the yet-to-be released LuxGate cross-platform exchange."

As a result of warnings from the SEC, McAfee has previously indicated he will no longer promote ICOs.

Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns bitcoin and ripple.

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