Disgraced UK knowledge evaluation agency Cambridge Analytica wished to lift $30 million by issuing its personal altcoin, in line with experiences which surfaced April 17.
We Wanted Users To ‘Reclaim Data’ Using Blockchain
Citing nameless sources “familiar with the matter,” Reuters reveals the corporate, which continues to face mass scrutiny after allegedly compromising private knowledge of tens of millions of Facebook customers, wished to subject its token through an ICO.
“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,” the unnamed spokesman instructed the publication in an electronic mail.
We have been exploring a number of choices for individuals to handle and monetize their private knowledge, together with blockchain expertise.
While it stays unknown whether or not ICO plans nonetheless function within the firm’s roadmap, the transfer places Cambridge Analytica at odds with Facebook, which earlier this 12 months banned ICO and cryptocurrency-related advertisements from its platform.
The purpose, it said in a January blog post, was their “association with misleading or deceptive promotional practices.”
The spokesman gave no additional particulars in regards to the potential position of its cryptocurrency, nor in regards to the type of Blockchain expertise it might usher in.
ICO Trust Runs Thin
Meanwhile, trade specialists are already starting to name time on the moment attractiveness ICOs claimed throughout their peak in 2017.
In an interview with Bitcoinist this week, fintech advertising agency CrowdfundX CEO Darren Marble stated the idea was now a “dirty word.”
CrowdfundX had engaged in promotional actions for the highly-controversial KodakCoin, which grew to become a PR disaster for Eastman Kodak when it was introduced earlier this 12 months.
“I think ICO is a dirty word—it has a negative connotation in the US market. ICOs are associated with the sale of unregistered securities and outright fraud in some cases,” Marble stated.
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