Equibit Development Corporation (EDC), a startup company based in Toronto, announced the appointment of John McAfee, founder of McAfee Associates and currently CEO of MGT Capital Investments, as the company’s Chief Security Officer.

McAfee will oversee the security of EDC’s applications and managed services for the financial industry and will report directly to EDC’s board of directors, the release stated.

"We're honored and thrilled to be working with John McAfee. With his input and ongoing guidance, EDC will continue to set the security standard for blockchain services. We share his unwavering commitment to IT security and, with his help, will continue to push the boundaries of what's possible in this industry,” Chris Horlacher, CEO of EDC said.

EDC has completed the installation of its first supernode that handles private key generation, encryption, decryption and digital signatures in hardware rather than software. With the addition of John McAfee, EDC plans to launch a web application built atop the supernode. This will provide easy access to users to Equibit network and unrivaled security over their private keys. This supernode can be accessed by institutions as well, through an API.

"Equibit Development Corporation has positioned itself to become a major player in the blockchain development field focused on the financial sector,” McAfee said. “With my guidance and advice, I anticipate the company to experience stellar growth and achievements."

Currently, EDC is holding a crowdsale for its Equibit tokens where 21 million tokens will be available with a pre-sale on the first million in January 2017.