Cambridge Analytica is Going to Launch a Digital Currency

The Reuters reported on April 17, that Cambridge Analytica was planning to raise money by issuing a digital currency before being involved in a scandal regarding the misuse of data from Facebook.

According to the sources, Cambridge Analytica had consulted with a firm that advises companies on how to structure Initial Coin Offerings (ICOs). Still it is unknown if the data analytics consultancy is still pursuing plans to develop a digital currency, but a spokesman informed Reuters that the firm was considering using Blockchain to secure online data:

“Prior to the Facebook controversy, we were developing a suite of technologies to help individuals reclaim their personal data from corporate entities and to have full transparency and control over how their personal data are used. We were exploring multiple options for people to manage and monetize their personal data, including Blockchain technology.”

Bitcoin News

The Cambridge Analytica cooperated with US President Donald Trump’s 2016 campaign. Recently it has been under intense scrutiny after it was reported that the firm gained access to a user data of Facebook. Sources say the firm harvested private information from the profiles of over 50 mln users.

ICOs have become an excellent way for firms to raise capital. A popular encrypted messaging service Telegram raised $850 mln this year in the second round of its ICO to support the development of the Telegram messenger app and Telegraph’s Blockchain platform.

LEAVE A REPLY

Please enter your comment!
Please enter your name here