Cambridge Analytica’s Shady Cryptocurrency

Cambridge Analytica. The company nobody heard of before
last week and now no one can stop talking about, is already trying out their
redemption arc by launching a crypto coin. Seriously. Cambridge Analytica’s introduction
to the public came via one of the most ferocious firestorms of clapback regarding the stolen private data of Facebook users. In a comic and ironic twist, as it turns out they were actually
trying to launch a crypto coin. One that would ostensibly protect
people from having their data stolen. The idea of the Cambridge currency
was a turnaround from the company
stealing your data and selling it for their profits. Instead they wanted to compensate users like you for the data that you’re willing to give up by
paying you with a cryptocurrency. They operate on the block chain
which supposedly means less sleaze and more accountability right. This way, supposedly, there’s a ledger of all
of the money that’s coming and going in and out of Cambridge which supposedly equates to transparency. But that is not necessarily the
case, especially of course when it comes
to Cambridge Analytica. But before we go any further spoiler alert the company didn’t actually even make it to their ICO. Maybe you read the news lately. But that doesn’t mean that they’re
going to stop trying. The implication of these guys
launching their own coin are surprise surprise exponentially more ethically murky than they’re selling it to be. The idea is you would exchange your data for some stake in their
coin. What you won’t see are the answers to the questions like what are they
going to do with my data and how long are they
even going to own it? And also is there some bigger nefarious scheme they’re planning without my explicit consent like say using it to create a hyper manipulative propaganda to provide some potentially
nefarious entity with the power to undermine an entire democratic system in favor of their own terrifying
interests? If we can barely expect anyone to
read the Terms of Service on Facebook or iTunes or Spotify what are the chances that anyone-
me, you- would read the terms and conditions of a block chain deal that sells everything about him or her. But the larger point here
should be obvious. Just because block chain is a safe
secure and transparent technology does not mean anything immediately surrounding it can’t be manipulated. It can be. If they corrupt this technology that
we all put our faith in and trust more than anything else, they’re not only damaging their own reputation, they’re damaging the public trust in the system. And for anyone who cares about
growing block chain or finding ways to create trust over the Internet, which should be everyone, that’s a pretty awful prospect. Good thing you can fight against it
simply by knowing what you’re up against before you step into a deal with them or any other company like them. There is little doubt that this will
be the last we hear from them. What we don’t know and we’ll just have to find out. Who their next con is and who they’ll make more marks of. Here’s hoping it won’t be you and stay locked to for more as this story develops.

3 thoughts on “Cambridge Analytica’s Shady Cryptocurrency”

  1. I don't care if Cambridge Analytica supposedly "fired" him. IT IS STILL STEVE BANNONS COMPANY.
    The KKK has gone cyberspace and it wants your data.
    Why do I get the impression this is tantamount to a serial number tattoo on my forearm?

Leave a Reply

Your email address will not be published. Required fields are marked *