Jack Dorsey pushes Signal to adopt Bitcoin payments

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Jack Dorsey, a cryptocurrency entrepreneur and erstwhile Twitter CEO, is encouraging Signal Messenger to integrate Bitcoin for peer-to-peer (P2P) payments, a determination that could displacement the platform’s crypto strategy distant from altcoins.

“Signal should usage Bitcoin for P2P payments,” Dorsey wrote connected X connected April 9, replying to a station by Bitcoin developer Calle, who suggested that Bitcoin (BTC) would beryllium a cleanable acceptable for Signal’s backstage connection channel.

Dorsey’s telephone to enactment was echoed by different manufacture leaders, including erstwhile PayPal president David Marcus, who wrote that “all non-transactional apps should link to Bitcoin.”

The endorsements bespeak a increasing propulsion to beforehand Bitcoin arsenic a functional outgo strategy alternatively than conscionable integer golden oregon a pure store of value, which unsocial — according to Dorsey — won’t guarantee the occurrence of BTC.

Signal offers payments with Sentz, formerly MobileCoin

Founded successful 2014, Signal is an open-source, encrypted messaging work for instant messaging, dependable calls and video calls.

The messenger presently offers in-app payments successful MobileCoin (MTCN), a privacy-focused ERC-20 token, which rebranded to Sentz successful November 2023.

Backed by high-profile manufacture players similar BlockTower Capital and Coinbase Ventures, Sentz was founded successful 2017 by Josh Goldbard and Shane Glyn to alteration a “fast, private, and easy-to-use cryptocurrency.”

Signal came nether occurrence implicit its MobileCoin integration successful 2021, with galore raising concerns implicit imaginable ties betwixt Signal’s laminitis and MTCN, opacity astir its issuance and suspicious gains starring up to the partnership’s announcement.

Cointelegraph reached retired to Signal regarding imaginable plans to integrate Bitcoin but had not received a effect arsenic of publication.

Social media apps historically pushed altcoins

Signal is acold from being unsocial successful pushing altcoin payments alternatively of offering its users payments successful Bitcoin, which is designed for P2P payments arsenic its halfway usage case, according to its anonymous creator, Satoshi Nakamoto.

Although erstwhile PayPal president Marcus is present advocating for Bitcoin usage by each non-transactional apps, helium antecedently led Meta’s (formerly Facebook) task processing the firm’s ain payment cryptocurrency, initially known arsenic Libra, which eventually failed.

Telegram, different messenger fashionable successful the community, has besides been aggressively pushing its ecosystem to usage Toncoin (TON), a crypto plus linked to Telegram founders, though not technically managed by Telegram.

Elon Musk’s “everything app” X has besides been suspected of readying to motorboat its ain coin for a agelong time, but Musk publically denied that successful August 2023.

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