The end-to-end encrypted messenger app Signal had been gaining popularity since the acquisition of WhatsApp by Facebook. Signal had been vocal about protecting the privacy rights of users which is why the messenger application is designed so. However, Signal designed to take its mission a step further by incorporating a privacy coin into its application for fast and anonymous transactions.
Signal and MobileCoin’s partnership has had a rocky journey and the beta version of the application has not even been launched throughout the world. Users started speculating about the connection that the CEO of signal has with MobileCoin and the possible motives behind the partnership as MobileCoin started soaring days before the announcement.
The messenger app had run a test pilot in the UK and has released the report of the test run. The report also revealed the top four complaints of users. The top complain was the transaction fee of $0.60 is too high – understandably. Followed by the intricacies of actually transferring funds. The UK users had to resort wiring transfer money to exchanges which support MobileCoin. The process is complex and also incurs additional fees. Finally, cryptocurrencies are known for their brutal volatility and the firm acknowledged that the price volatility of MobileCoin will pose a problem for users.
However, Signal has taken notes of all the major complaints and is actively working on resolving as much as it can.