Cryptocurrency news: Cambridge Analytica's VC, Verge finds a naughty niche
The New York Times has discovered that Cambridge Analytica was planning an Initial Coin Offering (ICO) with the hope to create its own virtual currency. According to the article, subscribers would be able to use the company’s VC to “store and sell their online personal data to advertisers.” This seems somewhat ironic after the revelation of the data-mining firm’s accumulation of the personal data of 87 million unaware Facebook users for vote influencing. It would be very difficult for Cambridge Analytica to attract investors to an ICO now, which is a shame because apparently the ticker symbols CON and ICU could be available.
The people behind the cryptocurrency called Verge have found a valuable niche that seems ideal for a decentralized practically anonymous VC: Paying to watch adult content on the Internet. Pornography websites have come up with all sorts of ways to encourage cautious customers to hand over their credit card digits, such as trading under innocuous company names thus keeping online viewing habits a secret on statements. Thanks to the cryptocurrency craze, now there's a new way to pay for almost anything, including porn.
MindGeek, which basically owns every major adult video-sharing service you’ve pretended never to have heard of, has agreed to allow subscriptions to be paid in Verge. One of MindGeek’s properties, Pornhub, is one of the world’s most popular sites: At the time of writing its Alexa global ranking was 34 (number 16 in the US). Watch Verge overtake Bitcoin as the world’s most famous and popular cryptocurrency within a year.