TL; DR breakdown
- The privacy-oriented messenger signal app could integrate a crypto payment platform into its system.
- For privacy reasons, users are looking for alternatives to WhatsApp.
- Elon Musk advises his followers to use the Signal app.
There is no doubt that competition in the technology industry is widespread. Recently there has been competition between messenger applications trying to take advantage of WhatsApp’s new privacy challenges.
One such application that seems to be milking its newfound fame is privacy-focused messaging app Signal, which has seen a significant surge in users over the past week. Hoping to keep any new users it found, the app has started working on new features that will keep these users loyal.
Signal could integrate a crypto payment system into its platform
According to Casey Newton, the founder of Platformer, the Signal app is now working on integrating crypto payments into their platform. This is not surprising given that the company has a strong bias towards protecting the privacy of its users. Hence, finding a way for private transactions is completely in line with its goal.
The report goes on to say that the app has already tested a token for MobileCoin. MobileCoin is a Stellar-based crypto platform supported by Binance and like Signal is geared towards data protection.
A top manager of the Signal app, Moxie Marlinspike, is also an advisor to the crypto platform. This could lead to a seamless provision of the crypto payment platform in the messaging app.
Although Marlinspike says the rumors of these integrations are speculation, he confirmed that the company was conducting tests, but referred to them as “Design Explorations.” It should be noted, however, that other employees of the company have confirmed that the company wants to integrate MobileCoin.
Signal’s newfound fame
According to TechCrunch, the app received over seven million new downloads in four days, which is way above the number of downloads it normally receives. The Telegram also saw the same surge as it claims to have 90 million active users in January alone.