Cambridge Analytica, a British political consulting firm which is accused of using millions of Facebook personal data to manipulate the U.S Presidential elections has allegedly planned to release their own ICO.
The digital coin was to be introduced in the market as means of storing users’ online personal data and selling them in the market. The data that would be collected from the ICO would then be used to inflict government and private control.
According to reports, the firm was set to release their ICO in Mexico and influence people to trade in cryptocurrency in order to collect their data and use it to for campaign strategies in Mexico’s election. Cambridge Analytica had started working on this project prior to the scandal.
A Cambridge Analytica spokesman had emailed to Reuters:
“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 monetise their personal data, including blockchain technology.”
Brittany Kaiser, one of the key member of the project told NY Times:
“The way that Cambridge Analytica was talking about it, they were viewing it as means of being able to basically inflict government control and private corporate control over individuals, which just takes the whole initial premises of this technology and turns it on its head in this very dystopian way”
Kaiser even claims that Cambridge Analytica helped Dragon Coin raise money but the CEO of the coin has brushed off all the allegations even though Kaiser was tagged in important emails.
Sandra Susan, a cryptocurrency investor, and trader says,
“This is astounding. How low can a firm fall? Donald Trump is on the verge of starting a world war and here they are, trying desperately to make it worse. Why can’t they just work earnestly and not every goddammed person on this planet”
Karan Singh, an American Indian crypto-enthusiast says,
“It looks like they wanted to control the whole world but then hell rained down”
EthereumFrenzy, a Reddit user says:
“These guys are smart. They did manage to make a candidate win an election quite spectacularly from a technical standpoint. Not at all surprising for them to be feeling the crypto space. From a privacy of data standpoint, they are probably quite expert. If you know how to “hack” it, you are probably also pretty good at defending it”
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