The Signal application does not keep call logs or backup copies of its users’ data.
Photo: Ketut Subiyanto / Pexels
Elon Musk, the richest man in the world, recommended to his followers to use the messaging service of Signal instead of WhatsApp, a messaging service that provides greater security and privacy in the face of the changes announced by the subsidiary of Facebook, but the recommendation caused an error among investors.
Without a prior comment, through his Twitter account, the CEO of Tesla and SpaceX, wrote: “Use Signal.”
— Elon Musk (@elonmusk) January 7, 2021
In 2018 the billionaire removed the official pages of Facebook from Tesla and SpaceX. WhatsApp, owned by Mark Zuckerberg’s company, faces a controversy due to the privacy policies that are alerting users to the data that users share. For now, the instant messaging firm clarified that at the moment the shared data storage is only for accounts of WhatsApp Business.
“All users will be notified within the chat if the business they are talking to has chosen to use Facebook to manage and store their messages. WhatsApp. This is an optional service that we offer ”, assured the firm.
The mistake that prompted Musk’s comment
Following the announcement of Musk in Twitter, the shares of a company called Signal Advance they rose 527% on Thursday and another 91% on Friday, going from 60 cents to $ 7.19. But there was a mistake.
Signal Advance was founded in Texas under the name Biodyne in 1992 and provided services to medical and legal workers. The company changed its approach to using technology in healthcare and changed its name to Signal Advance. The company’s shares have been little traded since they hit the market in 2014.
Signal, the company Musk referred to in his tweet, is operated by an organization non profit and serves as an alternative to text messaging apps like Facebook Messenger, WhatsApp, Telegram and Apple’s messaging service. Signal clarified on Twitter that it has nothing to do with the Signal Advance company.
“It’s understandable that people want to invest in the growth of Signal, but it’s not us,” wrote the Signal messaging company. “We are an independent 501c3 and our only investment is in your privacy,” he wrote in a Twitter message.
Is this what stock analysts mean when they say that the market is giving mixed Signals?
It’s understandable that people want to invest in Signal’s record growth, but this isn’t us. We’re an independent 501c3 and our only investment is in your privacy. pic.twitter.com/9EgMUZiEZf
— Signal (@signalapp) January 8, 2021
Related: Why the FBI Seeks to Access Free Zoom Users’ Video Calls.
The application that seeks privacy
According to an article published in October by The New Yorker, the messaging app Signal, is supported by the Signal Technology Foundation, and its operation is made possible by donations. Signal was founded on the premise that mass surveillance, especially by governments and businesses, should be impossible.
Moxie Marlinspike, founder of the encrypted messaging service is “trying to bring normality to the Internet.” Signal cannot read the messages your users send and does not recognize user metadata. It does not keep call logs or data backups.
The company has also assured that it does not have “rear doors“, A built-in evasion method designed to grant law enforcement or corporations access to encrypted content.
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Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.