Signal is a privacy-focused texting app that features end-to-end encryption. This messaging app is made for security-concerned digital communicators who are worried about hackers. Even if your Signal messages get intercepted, it would look like a string of nonsensical characters and symbols.
Signal pushes MobileCoin because it can’t be tracked like Bitcoin
Signal’s modus operandi is offering its users privacy-focused services and that doesn’t stop with its new cryptocurrency feature. Signal doesn’t believe Bitcoin aligns with its mission because it’s still traceable.
Like many other cryptocurrencies, Bitcoin runs on a blockchain (a public ledger for record-keeping), which includes a network of miners that ensures the digital asset is not fraudulent nor counterfeited. However, as Wired pointed out, this blockchain can, in many cases, reveal who sent money to whom.