Privacy-Focused Messaging App, Signal Launches Crypto Payments Through MobileCoin

  • Signal, the private messaging app, launches a mobile payment system.

Following an impressive year in the messaging industry, Signal, the popular private messaging app, is launching mobile payments system, mobilecoin (MOB). According to a statement by Signal founder Moxie Marlinspike, who has been an adviser to the project for the past three years, the new payment system aims to provide a simple and private platform to send payments. The platform is built on Stellar blockchain leveraging the blockchain’s scalability and instant payments network.

The platform will launch a beta project first before rolling out the full product, a blog post confirmed on Tuesday. At launch, the beta phase of Signal’s payment service will only be available to U.K. customers enabling them “to send and receive privacy-focused payments as easily as sending or receiving a message.”

Users will send funds, receive funds, keep track of their balances, and review their transaction history directly from the Signal app. MobileCoin aims to improve privacy in financial transactions; hence the app will not have access “to your balance, full transaction history, or funds.” The app also allows users to transfer funds when they switch to another app or service.

The coin will be available to eligible users only on FTX exchange.

However, some analysts look at this as a step back for Signal, who have made their name in enhancing privacy via encrypted messages. “Signal as an encrypted messaging product is really valuable,” Matthew Green, a member of the Zcash Foundation board, said.

“Speaking solely as a person who is really into encrypted messaging, it terrifies me that they’re going to take this really clean story of an encrypted messenger and mix it up with the nightmare of laws and regulations and vulnerability that is cryptocurrency.”

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Author: Lujan Odera

Privacy-Focused Messenger, Signal, is Testing Crypto Payments Using A Stellar-based Project

Privacy-Focused Messenger, Signal, is Testing Crypto Payments Using A Stellar-based Project

As Whatsapp users exit the platform and move en masse into other apps, Signal is hoping to engage and keep them with new features, including cryptocurrency payments.

One of the many exciting aspects of the technology industry has been watching it adapt due to changing global trends in the past year.

The world was plunged into uncertainty when the coronavirus hit, and everyone had to stay home. However, Zoom, Amazon, and Netflix – among others – stepped in and kept users sane. Signal faces a similar meteoric rise to fame.

No Clarity on MobileCoin Integration Yet

Signal is a privacy-focused mobile messaging app that has seen substantial growth in users over the past few weeks. Hoping to keep the buzz going, the service has begun working on adding new features for convenience.

Keeping in line with its privacy focus, Signal now appears to be working towards crypto payments. Casey Newton, the founder of the technology newsletter service Platformer, reported that Signal was considering implementing crypto payment services into its messaging platform.

According to the report, Signal has been running pilot tests for a token on MobileCoin, a Stellar-based, privacy-focused cryptocurrency platform with backing from Binance. The report pointed out that Moxie Marlinspike, Signa’s chief executive, is an adviser to MobileCoin, hypothesizing that the two services are looking towards a possible MobileCoin deployment into Signal.

Marlinspike had downplayed any integration speculations, explaining that the tests were “design explorations.” However, Signal employees have reportedly confirmed that the company is actively looking into integrating MobileCoin into its platform.

Signal in the Spotlight

Signal’s growth was fueled by a new privacy policy update from Whatsapp is on a trajectory that several platforms have been on in the past. On January 6, WhatsApp users worldwide saw a pop-up from the service notifying them of changes to its privacy policy. While the changes were said to enable businesses to send and store messages, users would have to agree by February 8 or be deactivated by the app.

The privacy update caused a stir online, with many immediately suggesting alternatives. Several prominent tech names, including Elon Musk and Jack Dorsey, immediately touted Signal as a top substitute, and the app immediately saw a surge in users.

Quoting data from Sensor Tower, TechCrunch reported that the app got 7.5 million downloads between January 6 and January 10. It is worth noting that the company has been around for six years, during which time it reached 20 million downloads.

Signal isn’t the only app that benefited from the WhatsApp backlash. A tweet from Newton showed that Telegram, the latter’s top competitor, claimed to have added 90 million active users in January alone. However, Signal’s privacy focus has gotten a lot of attention.

Now that the app is on a tear, it will want to watch out. The Platformer report has noted that some employees are sounding warnings about changes in its corporate structure and some new features that the platform is adding. During its boom last year, Zoom faced issues with privacy and harassment issues. Now that Signal is hoping to keep its new users, all eyes will be on it to see how it performs.

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Author: Jimmy Aki

Facebook Owned WhatsApp Changes Privacy Policy; Telegram and Signal Gets Promoted

Facebook Owned WhatsApp Changes Privacy Policy; Telegram and Signal Gets Promoted

Popular Messaging app WhatsApp has changed its terms on Thursday that will allow it to share more information about billions of its users with its parent company Facebook and to further roll out ads and e-commerce.

Users must accept the changes, or their access to the service will be cut off from Feb. 8.

The updated terms will allow additional sharing of information like contacts and profile data but not the contents of messages, between WhatsApp and Facebook and its other applications such as Messenger and Instagram.

“If the only way to refuse (the modification) is to stop using WhatsApp, then the consent is forced as the use of personal data is illegal,” said Arthur Messaud, a lawyer for La Quadrature du Net, an association that defends internet users.

The changes would not affect EU and UK-based users.

Facebook bought WhatsApp in 2014, and two years later, it gave users a one-time chance to opt-out of sharing app data with the social media giant.

Brian Acton and Jan Koum, the founders of WhatsApp, left the company in 2017 and 2018, both of whom vehemently opposed the decision to monetize the platform through ads. Koum even called for people to “delete Facebook.”

This move by WhatsApp prompted calls for users to delete their accounts and switch to encrypted messaging apps like Telegram and Signal.

Tesla CEO and un-official DOGE CEO, Elon Musk, who has become the richest person in the world, recommended users to switch services, tweeting “Use Signal,” hours after criticizing Facebook via a meme.

“We need Web 3.0 now more than ever. We’re losing control of our own information, identity & destiny every day. A decentralized & fair internet made of distributed ledger technologies allows us to dismantle centralized tech giants & rightfully own our data,” said Jay Hao, CEO of cryptocurrency exchange OKEx.

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Author: AnTy

OMISEGO Price Prediction Today: Daily (OMG) Value Forecast – July 31

OmiseGo Confirms the Acquisition by Thailand Company to be “False”
  • Most of the range market moves of the OMG/USD have featured under the sell signal line of the SMA trading indicator.
  • Traders are enjoined to exercise some degree of caution while placing an order.

OMG/USD Medium-term Trend: Ranging

  • Distribution territories: $1.80, $2, $2.20
  • Accumulation territories: $1.20, $1, $0.80

OMG/USD market territories between $1.60 and $1.40 marks have dominated by a variant of choppy price movements. Most of the range market moves have featured under the sell signal line of the SMA trading indicator.

About a day and several hours until the present, the Bollinger Bands have shrunk into the choppy spots. Like wisely, the 50-day SMA trading indicator has joined with the Bollinger Band at the upper end of range market. The Stochastic Oscillators have moved closer to range 75 with their hairs conjoined to signify the intensity of the on-going range movements.

There has been no tangible move to suggest a clear-cut direction of this market. And that could linger on to the next trading session.

OMG/USD Short-term Trend: Ranging

The OMG/USD short-term trend has been witnessing a more intense ranging price moves. The intensity of the ranging market has spanned from yesterday’s session into the present market trading condition.

All the trading indicators are within the ranges, as earlier mentioned in the paragraph above. The Bollinger Lower Band and the 50-day SMA are joined together in the choppy regions. The Stochastic Oscillators have crossed downwards from range 80 to range 40. And, they now attempt to close the hairs.

It appears the OMG/USD bulls are struggling around the present choppy spots. Traders are enjoined to exercise some degree of caution while placing an order.

OmiseGo:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

CRYPTO.COM CHAIN Price Prediction Today: Daily (CRO) Value Forecast – June 25

  • CRO/BTC market has now been making attempts to push northwards.
  • The sudden spike may be a signal to expect more bulls’ potentials as long as the B0.000005 price point isn’t broken southwards.

CRO/BTC Medium-term Trend: Ranging

  • Supply levels: B0.000009, B0.00001, B0.000011
  • Demand levels: B0.000004, B0.000003, B0.000002

Between June 22 and until about formation of two 4-hour candlesticks of early trading sessions today, the CRO/USD market moved notably in a range. The third emergence of the 4-hour candlestick has come up with a violent spike that broke out of the range spot to average B0.000009 mark.

Not too long, the pair made a quick correction to now hover around upper range spots depicted at B0.000007 and B0.000006 price levels. The Bollinger Bands are located underneath the 50-day SMA. But, the Bollinger Upper Band has touched the SMA indicator from below. The Stochastic Oscillators have crossed to point north within ranges 40 and 20.

The crypto-market has now had a selling wall between the B0.000009 and B0.000007 points. Therefore, the bulls are not expected to push the market line beyond the B0.00009 mark in a near trading time of the CRO/BTC market.

CRO/USD Short-term Trend: Ranging


A spike that occurred earlier in the CRO/BTC market in the short run has led it into entering upper range zones afterward. Yesterday’s trading sessions witnessed its series of ranging market movements around lower zones as compared with the present.

The crypto-market has now been fluctuating around B0.000007 and B0.000006 price lines. The Bollinger Bands have opened wider around the B0.000007 and B0.000005 marks with the 50-day SMA located a bit under the Bollinger Middle Band’s trend-line. The Stochastic Oscillators have conjoined hairs to move along range 40.

There are indications that the bulls in the market of CRO/BTC are likely to gain the market’s advantage in the short-term run. Therefore, the bears may not have the possibility of pressing down the market retest a low point at B0.000005 mark.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha