Cybersecurity firm MGT Capital Investments Executive Chairman John McAfee is set to provide a keynote presentation at the Blockchain: Money Conference in London from November 6 to 7, which will most likely focus on the impact of blockchain in the field of cybersecurity.
McAfee, who has successfully led MGT Capital Investments into the bitcoin mining industry recently, is particularly fond of the blockchain technology and its correlation to the Internet of Things market, which he believes is the next multi-trillion dollar industry.
However, McAfee states that IoT devices must be approached with caution and protected with proper security measures to ensure that external hackers gain access to private data. If IoT devices potentially become vulnerable to security breaches and data manipulation, McAfee believes a catastrophe will be the consequence.
“We’re approaching a situation where we won’t have the resources to stop, prevent or recover from the potential damage coming down this pike,” McAfee said in an interview.
“When it was about entering World War II, what did that take? The annihilation of America’s Pacific fleet. We’re people. We’re lazy. We’re indolent. We just think the best is going to happen – and if the worst happens, someone will take care of me. But they won’t. Not this time,” he added.
Blockchain’s Role in Cybersecurity & IoT
For this particular reason, McAfee has been actively involved in the development of the blockchain technology and bitcoin. Since IoT networks and devices can leverage the security measures of robust blockchain infrastructures and networks like bitcoin, he notes that blockchain will be the center of cybersecurity in the near future.
"The Blockchain will be central to nearly every aspect of cybersecurity, from wire transfers, to send and receive authentication, to secure voting systems. It will become the cornerstone of virtually all digital transactions," McAfee wrote.
Considering McAfee’s devotion in enhancing blockchain security and establishing the IoT market, and the Blockchain: Money Conference--a two-day event which revolves around blockchain industry growth, real-world use cases, and cryptocurrency initiatives--his keynote is presumed to target the technology’s role in monden cybersecurity.
MGT Capital Investment’s Rebranding
With McAfee at the focal point of the company’s operations, the MGT Capital board of directors are considering the possibility of rebranding the public company name to “John McAfee Global Technologies” in the future.
More importantly, its bitcoin operation will allow both McAfee and its advisors to reflect their viewpoint on the roadmap of bitcoin and blockchain development.
As MGT Capital’s cybersecurity startup acquisition plans are established and are set to be settled shortly, both bitcoin users and participants at the Blockchain: Money Conference can expect to see the emergence of various innovative solutions and services led by McAfee.
Images from Shutterstock and CNN.