Thursday, April 22, 2021
Home Lead Story Signal Experiments With Cryptocurrency-Based Peer-To-Peer Transfers

Signal Experiments With Cryptocurrency-Based Peer-To-Peer Transfers

Signal Payments makes it easy to connect a MobileCoin wallet to Signal so you can send and receive money, keep track of your balance, and check your transaction history all from one app

Taking a cue from its rival WhatsApp, the fast-growing encrypted messaging app Signal has announced to let users send money in cryptocurrency to friends and relatives, as it tests a new peer-to-peer payments system in the beta version of its app.

Called Signal Payments, the new feature that is available in the UK first will currently support a privacy-focused payments network called MobileCoin, which has its own currency, MOB.

Follow NewsGram on Facebook to stay updated.

“As always, our goal is to keep your data in your hands rather than ours; MobileCoin’s design means Signal does not have access to your balance, full transaction history, or funds,” said Jun Harada, Signal’s head of growth and communication.

Signal
The new feature, called Signal Payments, will initially support a privacy-focused payments network called MobileCoin. Wikimedia Commons

“You can also transfer your funds at any time if you want to switch to another app or service,” he said in a statement late on Tuesday.

The company said it aims payments in Signal to be fast, private, and work well on mobile devices.

“Signal Payments makes it easy to link a MobileCoin wallet to Signal so you can start sending funds to friends and family, receive funds from them, keep track of your balance, and review your transaction history with a simple interface,” the company said.

ALSO READ: IIIT Hyderabad Unveils A Flexible Drone

“If you want to give it a spin and let us know what you think, it’s possible to convert to/from MOB on FTX and other exchanges soon”.

WhatsApp already has a peer-to-peer payments facility in its app and is currently live in India and Brazil. (IANS/KB)

STAY CONNECTED

19,507FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

All In The Mind: The State Of Mental Health In Corporate India

A study highlighting the role of the workplace in causing, furthering, and perpetuating mental illness, launched by Gi Group India, a leading human capital...

Instagram’s New Feature To Protect People From Abusive DMs

Facebook-owned Instagram on Wednesday announced a new feature to protect people from seeing abusive direct messages (DMs), as well as the ability to prevent...

Spiritual Power To Guard: Devotees Of Lord Ram Spread Message Of Covid19 Norms

In the wake of Bengaluru witnessing an unprecedented surge in Covid cases since the last month, devotees of Lord Ram wore costumes of Ram,...

Know What Lies Behind Tehreek-e-Labaik Pakistan’s Challenge To The State?

Pakistan's government has been put under a severe challenge and test by an Islamist party, which has wreaked havoc in the country this week...

Religious Hardliners Bring Pakistan Govt To A Standstill

The current ruling government of Pakistan, led by Prime Minister Imran Khan, may have come with a vision of progress and open-mindedness to create...

Football And Its Evolution

By- Khushi Bisht Football, also known as soccer, has a long and illustrious history. According to a global study conducted by FIFA, over 250 million...

Nikola Tesla: A Man Ahead Of His Time

BY- JAYA CHOUDHARY When discussing the greatest inventors of all time, Nikola Tesla is sometimes overlooked in history lessons at school. We often hear names...

The Best Documentaries You Can Watch On The Internet Today

By Nauman Abrar As children, most of us disliked documentaries because they were long, boring, very close to reality, and based on the truth. That...

Recent Comments