Cambridge Analytica had planned an ICO before its scandal

In parallel with the recent scandal involving Facebook and Cambridge Analytica Concerning the violation of privacy, the data analysis company prevo (it) (is) a first Initial Coin Offering (ICO). It seems that she wanted to issue her own digital currency before being swallowed up by the scandal.

Issue your own cryptocurrency through a $ 30 million ICO

It is not surprising that even companies like Cambridge Analytica swear by their own crypto-currencies. Many companies have explored this option; it remains to be seen whether their projects are successful in such a challenging market as virtual currencies.

Cambridge Analytica intended to launch its own cryptocurrency through an ICO. The goal was to raise a total of $ 30 million for a new service to control the sale of personal data.

A spokesman for Cambridge Analytica said :

Before the controversy on Facebook, we developed a suite of technologies to help individuals recover their personal data from companies and to have absolute transparency and control over the use of their personal data.

It is obvious that this plan took as much time as energy to society. However, it has been abandoned for one reason or another, although it could happen in the future.

Despite the abandonment of the cryptocurrency project, Cambridge Analytica is still interested in Blockchain technology. Its exploitation of the large distributed registry remains to be seen, the company could, among other things, use the Blockchain for the storage of data and the reinforcement of the transparency to the existing business models.

Recovering from the scandal by getting involved in the cryptocurrency industry

His involvement in the Facebook user data scandal severely tarnished his reputation. This situation may be detrimental to the success of its efforts, although it is not directly related to cryptocurrencies or the Blockchain.

What's more, Blockchain technology would make social media in the current form such as Facebook obsolete. This theory remains wishful thinking for Blockchain fans. But it is worth taking into account.

The issue of native digital currency and the launch of an ICO are generating growing interest from many sectors. Different forms of currencies can coexist despite strong competition. Following the scandal, plunging into the cryptocurrency industry and Blockchain would promote a positive change for Cambridge Analytica.

What do you think of the awkward situation in which Cambridge Analytica is diving while planning to launch its own cryptocurrency through an ICO? Let us know in the comments section below.

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Posted from my blog with SteemPress : https://infos.link/cambridge-analytica-had-planned-an-ico-before-its-scandal/

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