[Digital Today Reporter Hwang Chi-gyu] Signal, a mobile messenger app famous for supporting encrypted conversations, has unveiled a mobile coin-based payment function, a virtual asset (cryptocurrency).
Signal announced on the 6th (local time) that the mobile messenger signal users will first provide a function that allows them to send and receive mobile coins.
Mobile Coin, which was unveiled at the end of 2017, is a cryptocurrency project led by Signal, designed to run effectively on mobile devices while protecting user privacy and anonymity.
Payments using mobile coins will be available only to UK users for the time being. It is also available only on iOS and Android devices. Desktop is not supported. Signal ultimately wants to provide a payment function using mobile coins to global users outside the UK, Wired said.
The payment function provided by Signal is different from the payment functions integrated in messengers such as Facebook WhatsApp and Apple iMessage. WhatsApp, etc. usually supports linking user bank accounts, but Signal operates in a structure where only those who send and receive money can know about the transaction.
Many financial companies sell user personal transaction data to marketing companies or advertisers and hand it over to necessary law enforcement agencies, but the mobile coin integrated in Signal is designed to protect user identities and specific transactions on the blockchain.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.