Recently, Elon Musk suggested Signal as an alternative to WhatsApp. It was learned that the Signal application, on the other hand, is not only a messaging application, but also experiments with crypto coins.
It has been reported that Signal, which was developed as a privacy-oriented messaging application and proposed by Elon Musk, allocates its resources to the development of a crypto payment system for users.
In the details of the reported report, Signal is allegedly conducting pilot tests on Binance-backed, Stellar-based MobileCoin for such a technology. Signal's CEO Moxie Marlinspike is an advisor on the MobileCoin project. Buddha shows Signal how serious he is for the crypto market.
Former Signal employees reported that the company actively follows the protocols required to integrate MobileCoin into the messaging application.
The entry of a messaging app like Signal into the crypto market will likely have a major impact on the cryptocurrency market volume.
He had previously announced these initiatives for Facebook and was caught in the middle of protocols.
One of the biggest problems with cryptocurrencies is privacy protocols. Pending lawsuits with the SEC and not being legally identified depend largely on this. The integration of a privacy-focused application such as Signal into crypto projects will cause it to be in the middle of these discussions. Financial services firms are concerned about the situation caused by the transition of users from WhatsApp to Signal, according to Financial News.
As you know, the privacy-focused platform has increased its user base by more than 100% as a result of the changes made by WhatsApp. Also, the addition of anonymous payments and other features can make the platform a hotbed for illegal activities.
