Signal to Introduce a Form of Cryptocurrency, Rolling out in UK at First

Cryptocurrency is taking over the world slowly and gradually and it has been making its way on social media platforms as well. Firstly, Apple and Facebook started a feature which allowed users to send money and make transactions over their applications easily and now another communication application Signal is hopping on the bandwagon.

As per Wired, Signal is beginning to roll out the ability for some of its users to send money to one another with MobileCoin. The company Signal claims that even though WhatsApp and Facebook both have their own methods of payments, Signal brings online application transaction with a twist and far better experience saying that it is taking a further step than what Apple does with its Apple Pay Cash with Signal adding integrated support for the cryptocurrency MobileCoin.

The Creator of Signal on this conversation said that it is a different feeling of security when you know the application you are on is not able to read or access your data and therefore Signal is the best form of application for communication as well as online currency transfer. The CEO further added that he wanted to create a space where you can not only talk to your therapist online freely and more securely but can also send him his payments in a secured way.

Further it was explained that even if a user focuses on Bitcoin rather than sending money from a bank institution, it’s still possible to be tracked, and that’s why Signal jumped into “privacy coins” using block chain. The CEO and creator of signal says that MobileCoin has the most seamless user experience on mobile devices, requiring little storage space on the phone and needing only seconds for transactions to be confirmed.

The feature is being tested for United Kingdom region initially for both iOS and Android users while when will it roll out other regions globally and permanently has not been said by the company as of yet.

It is great to see though that technology is advancing so much that we can make use of online money and payments with so much ease without having to worry about carrying cash in our pockets at times with the fear of being looted. We have come a long way in technology and cannot wait to see what else the future has in store for all of us.

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

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