By CCN.com: Another day, another John McAfee tweet pumping a cryptocurrency project that has alarming red flags. The latest dubious crypto token is called Apollo, an “all-in-one” cryptocurrency with supposedly-private transactions.
Crypto Developers Call Out McAfee-Linked Apollo
However, according to crypto development firm Jelurida, Apollo’s so-called privacy features promoted are not so private after all.
Imagine if some company back in the days when you made your antivirus software would have copied/cloned your work, renamed to Mcfluffy, claiming to do tons of stuff and market it as a game changer knowing that actually is just a bad copy without the support of devs that made it!
— Sazan (@AvdiuSazan) March 28, 2019
Apollo’s selling point is quite straight forward: they’re the best cryptocurrency out there – for some unexplained reason.
As stated on their website, cryptocurrency is inaccessible to the majority of the world as it requires a bank account, computer, knowledge, and patience. Their solution to this barrier is to initiate a decentralized network of physical locations allowing anyone to walk in and purchase Apollo, simply with cash. This will allegedly open up cryptocurrency to the vast majority of people without a bank account.
Essentially, the Apollo team wants to create small exchange-like stores where people convert fiat to Apollo, and from there to other cryptocurrencies. Why you would need a coin for that, instead of using Bitcoin or any other major coin, is beyond my understanding. Maybe to fund the project? I really don’t know.