- Jack Dorsey, the founder of Twitter, recommended integrating Bitcoin with Signal for peer-to-peer (P2P) payments.
- Signal is known for offering its users encrypted messaging and voice calls but currently favors a cryptocurrency called Sentz over Bitcoin.
- Bitcoin might be the ultimate choice for Signal, considering its status as the most secure form of peer-to-peer digital cash.
Privacy-first apps for communication have become incredibly popular over the last few years. Amid the market’s many options, Signal stands out as one of the most secure.
However, this time around, there have been calls for increased privacy as Jack Dorsey, the founder of Twitter, recommended integrating Bitcoin for peer-to-peer (P2P) payments. His suggestion has created some fresh debates about the app’s crypto strategy, especially as it continues to support Sentz (formerly MobileCoin). Here’s a breakdown of what this push means for Signal and Bitcoin in combination.
Dorsey’s Public Push for Bitcoin on Signal
Jack Dorsey made this call on 9 April in reply to a Twitter (now X) post from Bitcoin developer Calle. Calle was the first to suggest that Signal should adopt Bitcoin for private P2P payments, to which Dorsey simply responded, “True. Signal should use Bitcoin for P2P payments.”
As expected, speculators took Dorsey’s statement as more than a casual tweet. This response from Dorsey is now being taken as a call to action for Signal. Dorsey has been a long-time advocate for crypto and has repeatedly pointed out cryptocurrency as a decentralized and secure means of payment.
Dorsey’s comment was soon backed by former PayPal president David Marcus, who escalated things further and added that “all non-transactional apps should connect to Bitcoin.” All of the endorsement from these figures paint Bitcoin further as a payment tool, rather than just “digital gold.”
What About Signal’s Current Crypto Option?
Signal is known for offering its users encrypted messaging and voice calls. Its services also include an in-app payment option with a cryptocurrency that, unfortunately, isn’t Bitcoin. This cryptocurrency, called Sentz, is a privacy-focused asset that was originally launched as MobileCoin. Signal added support for MobileCoin in 2021, branding it as a fast means of payment that aligned with the app’s mission.
However, the decision stirred controversy from the start, as critics questioned the relationship between Signal and MobileCoin. They pointed out the “less than transparent” mode of the coin’s issuance and even pointed out suspicious activity that led up to the partnership announcement. Fast forward to late 2023, and MobileCoin rebranded to Sentz and remained the main crypto payment option within the Signal app.
A History of Altcoin Favoritism Among Tech Platforms
Signal isn’t the only tech platform that has favored cryptocurrencies other than Bitcoin. Other social media companies have tinkered with crypto in the past, including Meta (formerly Facebook) with the launch of its Libra cryptocurrency ( which was later re-branded to Diem). Regulatory backlash led to the downfall of Diem eventually, and not much has been heard since.
Telegram has done something similar with its Toncoin (TON) cryptocurrency and The Open Network. X, under the leadership of Tesla CEO Elon Musk, is also reportedly working on its coin, despite a denial from Musk himself two years ago.
Overall, Bitcoin might be the ultimate choice for Signal, considering its status as the most secure form of peer-to-peer digital cash (as laid out by Satoshi Nakamoto). As it stands, the ball is now in Signal’s court. Will the app stick with Sentz, or will it rethink its stance soon?
