Market investment Analysis of An Older Private Payment Project MobileCoin (MOB)

  1. Project Introduction

MobileCoin is an older public chain dedicated to compliance and privacy payment, with a focus on providing secure, private, and minimalistic crypto asset wallet services for mobile communication applications.

In March this year, the crypto instant mobile messaging application Signal announced the integration of MobileCoin, which will support payment with MobileCoin. Users can link the MobileCoin wallet to Signal, send funds, receive funds, track balance, and view transaction history. After the news was released, MOB once rose to a high of $66 USD.

At the technical level, the MobileCoin Consensus Protocol is modified based on the Stellar Consensus Protocol. MobileCoin has no central authority. The participating nodes can be individuals, enterprises, or organizations, but they must have a real trustable relationship. Users can choose a group of nodes they trust to provide services.

MobileCoin blockchain is a zero-knowledge data structure, composed of UTXO, key images and metadata blocks of Merkle proof to ensure consistency and structure.

All MobileCoin transactions are verified securely in an SGX trusted environment. The SGX trusted execution environment is an invisible box to the outside world. The information cannot be viewed even if you own the SGX hardware. Therefore, you can add transaction records to the blockchain and discard identification information such as ring signatures.

The MobileCoin nodes running in the SGX trusted execution environment could securely manage keys for users. The client connects to the MobileCoin node safely through remote authentication and then encrypts and transmits the private key and a short 6-digit pin code to the node. After receiving it, the node encrypts and saves it in the trusted execution environment. So far, the user’s + 6-digit pin code has completed the mapping relationship of the private key. In this way, the user’s private key is safely stored in the node and can be recovered when the application is reinstalled. Thus, there is no need to trust the node, let alone remember the random recovery phrase that cannot be memorized.

MobileCoin ensures the irreversibility of data disclosure through cryptography and technology and maximizes users’ privacy. It gives users the right to make personal decisions. Users can never disclose transaction records or independently submit their own to specific government agencies or organizations for audit and other purposes.

2. Tokenomics

MOB’s total supply is 250 million tokens, of which:

50% owned by the company’s founders, team, and consultants;

15% sold to institutions and investors at the price of $0.8 USD/token;

The remaining 35% belongs to the MobileCoin foundation, partners, and airdrops.

3. Team Situation

Joshua Goldbard — CEO

Joshua is an expert in the telecommunications industry and has developed, managed, and implemented very complex communication networks for AT&T and other companies. He is also the founder of the Secret Party and the general partner of Crypto Lotus, a hedge fund focusing on cryptocurrency.

Moxie Marlinspike — Technical Consultant

Moxie Marlinspike is a cryptography expert, the founder of Signal, and former chief of the Twitter security department. Currently, he is the CEO of Signal Messenger LLC and is responsible for helping Signal Messenger, WhatsApp, Facebook Messenger, Skype, and other integrated Signal Protocol.

Shane Glynn — Legal Counsel

Shane Glynn is a law professor with 6 years of working experience at Google. He is also a part-time visiting professor at Hastings School of Law, University of California. He likes to understand new issues related to law and is very interested in the existing cryptocurrency regulations.

4. Financial Situation

MobileCoin has currently completed a financing of $107 USD million. Among them, the recent Series B financing round reached $66 million USD. The investment institutions include Alameda Research, Berggruen Holdings, BlockTower Capital, Coinbase Ventures, General Catalyst, TIME Ventures, Vy Capital, Suzy Ryoo, Troy Carter & J. Erving, Rodney “Darkchild” Jerkins, Brent Faiyaz, Jayne Andrew & Ty Baisden, Tunde Balogun, Aglaé Ventures, DreamCrew, Matt Mullenweg, Jesse Robbins, James Lindenbaum, Gaingels and 10X Capital. This financing round is mainly used for product development, merchant service construction, and the launch of stable assets.

5. Practical Value

At present, the main usage scenario of MOB is circulating payment. However, from the perspective of token distribution, there is a relatively large risk of selling pressure.

Note: This article is only for sharing and does not constitute any investment advice.

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