The creator of Signal, the popular privacy-enhanced secure messaging app for iPhone and Android, is creating MobileCoin. MobileCoin is a new cryptocurrency that aims to be user-friendly:
MobileCoin wants to leverage an extensive architecture to add simplicity to real privacy protections and resilience against attacks. The ultimate goal: To make MobileCoin as intuitive as any other payment system.
“I think usability is the biggest challenge with cryptocurrency today,” says Marlinspike. “The innovations I want to see are ones that make cryptocurrency deployable in normal environments, without sacrificing the properties that distinguish cryptocurrency from existing payment mechanisms.”
Usability efforts for older generation cryptocurrency protocols, like bitcoin, have largely been left to services like Coinbase, which centralize everything from currency exchange to your wallet, key management, and processing transactions. These platforms make actually using cryptocurrency more realistic for the average person, but they also consolidate mechanisms that are meant to be kept separate in the private and decentralized concept of cryptocurrency.