Signal Launches Payment Features Using Cryptocurrency, Mobilecoin

Signal users can pay using Mobilecoin (Cryptoknomics) cryptocurrency

JAKARTA – WhatsApp's rival chat app Signal launches payment feature using Mobilecoin (MOB). Signal co-founder Moxie Marlinspike has been an advisor to payment projects using cryptocurrencies in the messaging app.

Launching Coindesk on Thursday, April 8, Mobilecoin cryptocurrency uses Stellar blockchain (XLM) technology aimed at working efficiently on mobile devices. It also protects the privacy of Signal users.

The launch of the MOB payment feature in the Signal app has been planned for a long time, which is when Facebook plans to launch libra stablecoin in 2019.

However, currently only Android and iOS users in the UK get the mobilecoin payment feature in Signal. "I'm afraid of Signal," Matthew Green, a krptographer from John Hopkins University told Wired.

"Signal as an encrypted messaging product is truly valuable. Talking about (Signal) as a person who really likes encrypted messaging, what I fear is that they will enter a new chapter in encrypted messaging and unite it with the nightmare of law, regulation and vulnerability, namely cryptocurrency."

In addition, the application of cryptocurrencies to popular communication applications can attract many people to enter the crypto world. The company has announced the launch of the new feature in beta.

In its official blog post, Signal says that users can link their mobilecoin wallet to Signal so that users can send money, receive it, check balances and review transaction history.

"As always, our goal is to keep your data in your hands, not in our hands; mobilecoin design makes Signal unable to access your balance, complete transaction history, or funds," said Signal.

"You can also transfer your funds at any time if you want to switch to another app or service."