Cambridge Analytica Planned To Launch Its Own Cryptocurrency
Cambridge Analytica , the UK-based data firm responsible for harvesting user data from Facebook, was planning to develop its own cryptocurrency for the purpose of storing and selling personal data. Facebook recently confirmed that it has identified 87 million accounts whose profile information had been scraped by Cambridge Analytica . It seems the data analytics firm had a larger goal beyond political advertising to incentivize the data for cryptocurrency. Reuters and The New York Times first reported it, explaining that the Cambridge Analytica intended to raise funds through an initial coin offering, also that the digital coin would have helped people store online personal data and even sell it, former Cambridge Analytica employee Brittany Kaiser told the Times. Cambridge Analytica, which obtained the data of 87 million Facebook users, was hoping to raise as much as $30 million through the venture, anonymous sources told Reuters. Cambridge Analytica confirmed to Reuters that it had ...