Private messaging application Signal’s announcement that it will be integrating MobileCoin (MOB) has notably sparked massive concern among its users – speculating that Signal is practically alienating Bitcoin (BTC) users with this move. Moving forward, MOB users can now link their wallets to the messaging app, enabling them to send or receive funds, monitor their balances, and review transactions directly on Signal.
Notably, MobileCoin is the first and only payment protocol currently supported by Signal.
With that being said, the messaging app’s decision of integrating MOB has seemingly been finalized for quite a while now. In fact, Jonah Edwards of Internet Archive notes that the source code for the announced integration was kept a secret for about a year before it finally got published on GitHub. Many believe that this is what also led to the ongoing price rally MOB is currently experiencing right now, going as high as $66 per token last Wednesday, totaling about a 450% increase from March 28th.
On top of that, many also pointed out the seemingly shady relationship Moxie Marlinspike, the founder of Signal, has with MobileCoin. Several concerns popped up that early whitepaper copy of the project listed Marlinspike as MobileCoin’s chief technology officer (CTO).
In response to this, MobileCoin CEO Joshua Goldbard reassured the community that Malinspike’s involvement in the project was only as a technical advisor. He did not serve as an executive in any capacity. This is then found to be inconsistent with his previous statement where he notably described Marlinspike as one of the three founders of MobileCoin.
And speaking of early white paper copies, a particular developer named Tadge Dryja noted that MobileCoin’s was but a copy of Monero’s – albeit with minor changes.
With all these factors in mind, many are now taken back from their support with the messaging app, evidenced by the several negative responses flooding Twitter as of press time.