On 4th August, Nick Hellmann of the YouTube crypto-channel Learn Crypto broadcast an interview with the Founder of the McAfee Associations and a famous crypto influencer, John McAfee. Recently, much controversy has surrounded the cryptocurrency wallet as a bounty of $250,000 was set as a reward for anybody that could hack the wallet.
John McAfee has made claims that the wallet is ‘unhackable’. Bitfi Wallet is founded by Daniel Khesin, the former President of D.S. Healthcare Group. During the interview, both crypto-enthusiasts also discussed McAfee’s upcoming cloak phone, which has features such as air gap switches and stingray detector.
Bitfi: The Unhackable Wallet
Following the bounty, various parties claimed to have hacked the wallet; some by modifying the wallet to play a video, some via finding root access to it. According to McAfee, these are not the activities that include hacking the wallet as the coins could not be accessed. He furthered the dialogue:
“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 fuck. It’s meaningless.”
McAfee also stated that the hacking he referred to was for the coins in the wallet. He also said that nobody can steal the coins and explained the reason behind it. In his words:
“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… We’ve used the blockchain as our memory.”
Moreover, the pioneer in security software believes that it is pointless to have the memory that duplicates the blockchain. Rather, what makes more sense is to access that blockchain with a set of keys and passphrases. This gives birth to the concept that the blockchain is the memory and the security of the wallet is independent of the software. The passphrase is simply converted into C-case and the wallet is activated, stated McAfee.
The Bitfi proponent also shared his general viewpoint on the blockchain technology. McAfee believes blockchain, in conjunction with the smart contracts, to be extremely useful in solving problems in the supply chain field.
According to him, applying the same functionality, blockchain can be used in security. He said:
“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.”
Here, through his understanding, Hellmann stated the distinction between the Bitfi wallet and others. He said that while other wallets, such as Ledger Nano S or Trezor assign their users a passphrase on paper, Bitfi wallet allows its users to create one and store it in their memory.
Cloak Phone: The Ultimate Private Cell Phone
Cloak phone is the upcoming device by John McAfee’s team and Blockout Mobile that is claimed to be ultra-secure, providing complete privacy to the users. During the interview, McAfee mentioned that smart-phones are vulnerable to hacking as they are software-controlled devices that consist of ‘soft-switches’ such as Wi-Fi and Bluetooth. More so, this feature has given hackers a chance to delude the smart-phone users.
McAfee mentioned the air-gap switches as a solution to this problem. He explained that air-gap switches are buttons, which on being pushed, create an air gap that cuts off the vulnerability factor of the device. He further elaborated:
“…I designed this phone while I was at MGT. …have created air gap switches that, you press a little button for something and there’s a switch that actually has an air gap… You cannot take an electron and they could jump across this gap. So if you turn off your camera, the camera is off.”
The latter part of the interview was a general discussion on the cryptocurrency space, Bitcoin and suchlike.
The post John McAfee: Wiping off doubts regarding the recent Bitfi Wallet-hack claims appeared first on AMBCrypto.