[UPDATED] WhatsApp Competitor Gems Launches Encrypted Chat Using Bitcoin Tech
[UPDATE] THE PRESALE DATE FOR GEMS IS NOW DECEMBER 1ST AT 9:00AM PST
The Gems messaging app has unveiled a network for encrypted chat that will use cryptocurrency for in-app purchases and allow users to send coins between users.
The Gems Development team, led by Daniel Peled, has released its Beta version ahead of its initial coin launch for the in-app token. Starting November 15th, the app will include a wallet for accepting cryptocurrency from any users across the network.
Gems will launch with an iOS app but an Android app is also in development.
Gems founder Daniel Peled commented:
WhatsApp, for example, stores and does not encrypt its users’ communications, messages, pictures or videos. In comparison, user data is not stored by Gems, which has no way to access messages, and therefore messages and data are truly private.
Gems is a social-messenger app that comes integrated with next-generation bitcoin technology, and offers a mixture of RSA 2048 and AES with 256-bit keys. Encryption is performed client to client, making secure messages indecipherable by the Gems infrastructure. This is the only real way to achieve 100% privacy because it does not entrust any third parties.
The in-app token for Gems is created by the Counterparty protocol and will be available starting November 30th. Users who are participating in Gems Beta release will be able to use gems tokens to unlock in-app features, which includes earning additional Gem tokens by referring friends to download the app.
The Counterparty protocol is a peer-to-peer financial platform and distributed, open source Internet protocol built on top of the Bitcoin blockchain and network.
By using the bitcoin technology, Gems seeks to address growing concerns among netizens and social media users concerning security.
Gems is part of growing list of companies that are tapping the blockchain technology for other applications than just digital currency.
[UPDATE] According to Koinify, Gems token (“XGEM”) will be open for purchase on Koinify platform on December 1st at 9:00AM PST.