Signal: A Cryptocurrency Payment System Under Development

Finance Tech News
Signal could be working on a cryptocurrency payment system

MONEY: Some employees fear that the use of cryptocurrency may serve illegal activities

First in the number of downloads from the Apple Store, Signal is currently developing cryptocurrency payment solutionsClubic reportsExperiments based on MobileCoin (MOB) are underway. It is a cryptocurrency built on the Stellar blockchain, designed to make payments simple, secure and potentially impossible to trace can we read on Platformer.

Frandroid adds that this option could facilitate donations to the foundation. The ties between Moxie Marlinspike, the CEO of Signal, and MobileCoin are close since it holds an advisory role in this cryptocurrency project.

According to the manager, these tests are only “explorations of concepts”. Nonetheless, significant resources were spent on this project reportedly told former employees of the messaging app to Platformer.

Illicit activities?

While Signal benefited from the announcement of the change in WhatsApp’s terms of service, its employees are concerned about the consequences of the development of a cryptocurrency and the adoption of MobileCoin

They believe that this system, and end-to-end encrypted messages, could attract illicit activity, reports Frandroid“If we decided to integrate payments into Signal, we would try to think very seriously about how to do it,” said Moxie Marlinspike.

Leave a Reply

Your e-mail address will not be published. Required fields are marked *