Signal could integrate a cryptocurrency called MobileCoin, which is based on the Stellar blockchain.
Signal is experimenting with integrating MobileCoin, a cryptocurrency based on the Stellar blockchain. MobileCoin could be integrated into the messenger app as a payment method, according to a report from Platformer. However, the report also suggests that there is tension within Signal over the implications of this initiative.
Signal’s CEO, Moxie Marlinspike, was an advisor to MobileCoin.
The CEO believes that a payment method based on keeping the identities of its users hidden could be “risky.” First and foremost, it could lead to the application being used by “bad actors.” In conjunction with its other private functions and integrated with an “untraceable” cryptocurrency, it seems only fair that Signal’s CEO fears that the application will come under the scrutiny of the authorities.
Marlinspike said they have only done “design explorations” with MobileCoin. However, the report contradicts Signal’s CEO and states that sources within the engineering team confirm that resources have been dedicated to integrating MobileCoin with the privacy messenger. About this possibility, Marlinspike said:
If we did decide we wanted to put payments into Signal, we would try to think really carefully about how we did that. It’s hard to be totally hypothetical.
Meanwhile, integrating Signal with MobileCoin could be part of a strategy to expand its adoption in the mainstream.
However, some newly added features have caused discomfort among some employees who fear that the most important feature of the application – privacy – will be compromised.
Anyway, 2021 is shaping up to be a turning point for Signal, and its integration with the Stellar-based cryptocurrency could push it even further or stop it altogether.
Source: Crypto news flash