Cambridge Analytica Had Crazy Plans To Launch Its Own Cryptocurrency

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There isn’t a more controversial company in the world right now than Cambridge Analytica. The supposed data analytics consultancy firm has become embroiled in a scandal that centers around the mass mishandling of Facebook data. Harvesting millions of people’s private information for illicit means, the whole scandal has left Facebook’s reputation in tatters, with Cambridge Analytica now being targeted by the British High Court.

The controversy continues

If the controversial firm’s story couldn’t get any crazier, sources have revealed that Cambridge Analytica actually had discussions on how to put together an ICO. It’s unknown whether the company still have plans for an ICO in the future, although considering how much heat Cambridge Analytica is facing it’s fair to assume that these plans have now cooled. In one of the many ridiculous claims to come from Cambridge Analytica, a firm representative revealed that the company was planning to use Blockchain as a means to protect online data. The spokesperson said, “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.” This is where Blockchain apparently was to come into the equation, “We were exploring multiple options for people to manage and monetize their personal data, including Blockchain technology.”

Serious questions to answer

Cambridge Analytica is under extreme scrutiny from global authorities. It appears that the deeper investigators dig into the company’s murky background, the worse it gets. The firm has been linked to the highly questionable Brexit referendum, along with current US President Donald Trump’s 2016 election campaign. Within both of these campaigns, Cambridge Analytica’s involvement and influence have been criticized – especially in light of the company’s recently revealed links to Russia. Information was leaked regarding how the company lifted private data from more than 50 million Facebook users via illicit app “thisisyourdigitallife”. Both the British Parliament and the US Congress have demanded answers from Alexander Nix (Cambridge Analytica CEO) about the company’s activities as a result – although as of today he has refused to appear before MPs.

Cambridge Analytica’s crypto plans crumble

When you look at the tremendous strides that the likes of Telegram have made when it comes to ICO funding, it isn’t a surprise to see other company’s look to develop digital tokens of their own. However, we don’t see Cambridge Analytica’s ICO plans getting off the ground. It’s safe to say that the company has a long way to go in cleaning up its image before this can happen – that is if the company is able to survive its most recent scandal at all.