Signal Technology Foundation, the developer of globally used mobile app, Signal, has been asking for donations in the form of crypto.
“Signal” is a globally used mobile app which is downloadable free of cost. The company behind the app is Signal Technology Foundation which was established some three years ago in 2018. The founders of Signal Technology Foundation were Brian Acton and Moxie Marlinspike who decided to operate the app through donations.
Since past three years, the app has been able to acquire multi-million users across the world. Most of its customers belong to the US, UK and various others countries falling within European and Asian regions.
However, since Signal Technology Foundation was a non-profit based organization, it required donations to run the operations. But as of today, the non-profit organization has decided to seek donors who could donate in the form of crypto.
It has been told by Signal that it is receiving crypto as donations and there are 12 cryptocurrencies acceptable for donation purposes. For the purposes of donations, the organization has become partners with The Giving Block.
The Giving Block, is a widely known crypto donation platform founded in 2018 by persons known as Alex Wilson and Pat Puffy. The sole purpose of The Giving Block was to accept donations and provide them to the non-profit based organizations.
In the past, for running its operations, Signal Technology Foundation was accepting donations but they were in fiat. In addition, the company had not engaged the services of The Giving Block, which has been integrated just now.
There are hundreds of non-profit based organizations which are partnered with The Giving Block. Anyone wishing to donate to these companies can contribute through crypto and help them in their public causes.
With regard to crypto donations at Signal Technology Foundation, there are a total 12 cryptocurrenices which can be used for donations. The major ones are Bitcoin (BTC) and Ethereum (ETH). The facility of accepting donations in the form of crypto has been the result of joining hands with The Giving Block.
Earlier in the month of January, it was heard from some of the staff members of Signal that they’ll be partnering with The Giving Block. However, no date was mentioned and the integration has come recently.
Meanwhile a project called MobileCoin was launched in December 2020 which was suggested by Marlinspike. The project managed to raise considerable amount of donations (approximately US$ 30,000) in the first round of fundraising.
It is being advised that because Signal is considerably a popular app against an unknown project like MobileCoin, it is expected that Signal would be able to raise more donations as compared with MobileCoin in its initial fundraising drive.