"My new technology is going to provide a new type of Internet, a decentralized, floating and moving Internet that is impossible to hack, impossible to penetrate and vastly superior in terms of its facility and neutrality. It solves all of our security concerns," McAfee said in an interview with the San Jose Mercury News.
You could probably get most of those things by chucking a disconnected unpowered switch or two in the ocean attached to floats but you wouldn't be able to send much data across it.
From the sketchy description it might be some new protocol on top of TCP/IP.
One must be wary of such ideas, because the idea of "security" might be control by a central authority and forced authentication - but such schemes are antithetical to "security" from the viewpoint of users. If on the other hand it were really secure from the users' point of view, governments and corporations would never tolerate it and would just set about hacking the endpoints anyway.
And he seems pretty anti-authoritarian...
Have you seen this?
https://www.youtube.com/watch?v=bKgf5PaBzyg (NSFW video by McAfee)