Secure messaging app Signal is considering moving to cryptocurrency payment services.
The Signal messaging app is currently developing cryptocurrency payments and other features to be competitive in the messaging and payments industry.
According to Platformer, the company is actively developing online payment features with the Stellar cryptocurrency and another privacy-oriented cryptocurrency called MobileCoin. Moxie Marlinspike, Signal CEO, is a consultant on the project.
According to company insiders, MobileCoin is similar to the Facebook-backed Diem project (formerly Libra). This will make it easier for people in developing countries to send and receive money. The app also allows users to use unique usernames to address concerns about the current use of cell phone numbers to open accounts.
WhatsApp co-founder Brian Acton is now actively involved in the development of the payment service application, interviews engineers and writes code.
However, Signal's reported desire to start a cryptocurrency payment service has not been well received by the company's employees. They believe that the provision of payment services would attract bad actors and unwanted regulatory attention to the company.
According to the employees, a crypto payment feature would attract criminals to the platform and usernames could increase the risk of phishing and fraud. Additionally, staff are concerned that Signal has yet to develop guidelines for dealing with bad actors.
Iran bans Signal
Signal is reported to be under attack by the Iranian government as interest in the app rises. It is speculated that the government already has access to user information on WhatsApp and other popular messaging apps.
Aljazeera said that many signal users in Iran were unable to connect to the app as it was the most downloaded app on the country's Google Play store this month. Signal was also removed from the Iranian Cafe Bazaar and Myket app stores.
However, Signal has insured to users in Iran They are working to circumvent the government's attempts at censorship.