Cambridge Analytica Tried to Raise Money via Own Cryptocurrency

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Photo by David McBee

In April 17, it was reported that Cambridge Analytica was trying to raise money and thought of issuing a digital currency prior to becoming involved in a scandal regarding the misuse data from Facebook, sources told Reuters.

According to these sources, Cambridge Analytica consulted a firm that advises companies on how to structure ICOs. Though it is still unidentified if the data consultancy company is still pushing through with its plans to develop a digital currency.

“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” a Cambridge Analytica spokesman told Reuters.

Cambridge Analytica was the company behind US President Donald Trump’s 2016 campaign and has been under intense surveillance after knowing that the firm harvested private information from the Facebook profiles of over 50 million users.

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