Signal wants to integrate “Mobile Coin”

I advertised the use of Signal already in 2019 and was quite happy that many of my contacts changed to Signal as well when WhatsApp announced a mandatory change in their terms of use at the beginning of 2021.

Now Signal decided to integrate the crypto currency “Mobile Coin”. Moxie Marlinspike works as a paid consultant for Mobile Coin, so this is not really a surprise. Nevertheless I consider this questionable and I am not alone with this impression.

Bruce Schneier wrote about this, quote:

I think this is an incredibly bad idea. It’s not just the bloating of what was a clean secure communications app. It’s not just that blockchain is just plain stupid. It’s not even that Signal is choosing to tie itself to a specific blockchain currency. It’s that adding a cryptocurrency to an end-to-end encrypted app muddies the morality of the product, and invites all sorts of government investigative and regulatory meddling: by the IRS, the SEC, FinCEN, and probably the FBI.

And I see no good reason to do this. Secure communications and secure transactions can be separate apps, even separate apps from the same organization. End-to-end encryption is already at risk. Signal is the best app we have out there. Combining it with a cryptocurrency means that the whole system dies if any part dies.

I hope that the team of Signal will reconsider this step. Signal is not a bad app and I still recommend it as a real alternative to WhatsApp. However extending it towards supporting a crypto currency is dangerous in my opinion.

Leave a public comment

Your email address will not be published. This is not a contact form! If you want to send me a personal message, use my e-mail address in the imprint.

You can use the following HTML tags in the comment:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>