MobileCoin, cryptocurrency mobile-driven privacy, announced that Binance Labs led a $ 30 million fundraising for the team and product development project.
A promising project
The collection for MobileCoin was made in Ethereum (ETH) and Bitcoin (BTC). MobileCoin has been designed to be used by everyone. His system is initially focused on scalability, usability and privacy.
Binance invested in the project, through Binance Labs, its Blockchain incubator. The development team includes Moxie Marlinspike, the creator of Signal, an encrypted email application. In addition, MobileCoin will be listed on Binance , which will undoubtedly support the prospects of the new currency.
Binance Labs said during a recent announcement:As one of the market leaders, our mission at Binance Labs is to help advance Blockchains technologies and develop our collective cryptocurrency ecosystem. Crypto-currencies like MobileCoin play a major role in the adoption of consumer crypto-currency, because it is very user-friendly and it's a first mobile cryptocurrency.They also added:
The MobileCoin team and Binance Labs share a common vision and we are proud to support what MobileCoin does.Cryptocurrency, which will use the Stellar Consensus Protocol (SCP), aims to make privacy protection a central goal while creating a seamless user experience that integrates well with mobile messaging applications such as WhatsApp and Signal. Both of these messaging applications use the end-to-end encrypted protocol.
Some questions remain suspended
Shane Glynn, the legal advisor, will ensure that the company complies with the cryptocurrency regulations. Marlinspike joined MobileCoin in August 2017 as Technical Advisor. However, his role and his involvement in the project remain uncertain. Jackson Palmer, the creator of Dogecoin announced on Twitter:Take it with a grain of salt, but it is said on the street that Moxie is barely involved in the development of this thing. The lack of an open source code does not seem to be his style.https://twitter.com/ummjackson/status/988868418399911936
However, for the moment, this statement remains unconfirmed.
Alex Johnson, a market observer commented:
It is strange that they chose to raise funds in this way instead of going through an ICO. The use of ICO would have been more problematic in terms of regulation and more risky.What do you think of Binance financing the MobileCoin platform for $ 30 million? Comment in the comments section below.