Messenger app “Signal” is testing person-to-person remittance function for virtual currency “MobileCoin”



On April 6, 2021, '

Signal ', known as the most confidential messenger app that does not collect user information, announced that it will test the person-to-person remittance function of 'MobileCoin', a virtual currency, in the UK. Did.

Signal >> Blog >> Help us test payments in Signal
https://signal.org/blog/help-us-test-payments-in-signal/

Signal is testing a payments feature that lets you send cryptocurrency to friends - The Verge
https://www.theverge.com/2021/4/6/22370213/signal-payments-cryptocurrency-crypto-mobilecoin-wallet-mob-beta-feature

Signal Adds a Payments Feature—With a Privacy-Focused Cryptocurrency | WIRED
https://www.wired.com/story/signal-mobilecoin-payments-messaging-cryptocurrency/

On April 6th, Signal released a beta version of the app. The beta version includes performance improvements and bug fixes, but it also adds `` Signal Payments, '' which allows users residing in the UK to transfer MobileCoin between users.




Users can use Signal Payments to link MobileCoin to Signal, send MobileCoin to friends and family, and view transaction history. However, due to MobileCoin's design, it is impossible to access balances and complete transaction history from Signal. MobileCoin uses a protocol called CryptoNote and a method called Ring Confidential Transactions to conceal the amount of remittances and deposits, making it difficult for others to confirm transaction records, but the occurrence of transactions is guaranteed by zero-knowledge proofs. Masu.



MobileCoin was created with technical guidance from Moxie Marlinspike , the creator of Signal, and is considered to be highly compatible with Signal. Marlinspike said, ``Signal provides a feeling of being unwatched that other communication platforms don't have, and that's what I want people to feel when they talk to and pay their therapists through Signal.'' ” he says.

However, some say that such hidden currencies can become a hotbed for financial crimes such as money laundering. Matt Green, a cryptographer at Johns Hopkins University, said, ``Signal has value as an encrypted messenger app, but the great aspects of Signal as an encrypted messenger app cannot be overshadowed by the legal regulations of virtual currency.'' I can't help but be horrified that they are trying to mix it up with the nightmare of vulnerability.'

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