Gems, an Israeli messaging app that uses online currency, has unveiled a secure network for encrypted chat that will use Bit Coins for in-app purchases and allow users to send coins between them.
Gems calls itself the, “social messaging app bringing crypto-currency to the masses.” It is a free mobile app available for iOS and Android.
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Led by Daniel Peled, the Gems Development team released its Beta version ahead of its initial coin launch for the in-app token, gems starting November 15th which will include a wallet for accepting crypto currency from any users across the network.
The announcement of the Gems app arrives just in time amid growing concerns about privacy and database hacks after “private information was leaked, technology users have become much more concerned about the security of their data, ” according to Founder, Daniel Peled.
“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.”
Social media companies such as Snapchat and Telegram have thrived by offering services that put a premium on security by featuring private messages. Gems takes it a step further by authenticating users through an encrypted passphrase but doesn’t require a mobile number to be able to communicate between users.
The in-app token for Gems is created by the Counterparty protocol and will be available starting November 15th – users who are participating in the Beta release (and those lucky few invited) 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.