Blockfolio launches ‘Signal’ communication platform to tackle misinformation in crypto

Blockfolio, the cryptocurrency portfolio tracker currently servicing over 4 million crypto enthusiasts worldwide, has announced the beta launch of ‘Signal,’ a communication platform designed from the ground up to address the growing misinformation problem in the crypto ecosystem.

Integrated directly into the Blockfolio app, Signal will address the needs of the current ecosystem, where communication channels such as social media and chat rooms are often riddled with spam, scams, and unverified data. As these channels increasingly become a primary source of investor information, Signal aims to solve these issues by providing a scalable, verified way for leadership teams to communicate directly with token holders.

Starting today, token teams registered for the Signal Beta can broadcast direct update “Signals” through the Blockfolio network to the users who either hold or track their coin. Signals are delivered to Blockfolio users through a personalized feed and push alerts, allowing them to be notified of important updates regarding the tokens within their specific portfolios, directly from the source, without information dilution or delay.

With Signal, we mainline important team information directly to users. Signals come straight from the token team leadership, free of the noise and toxicity that we so often see in the current communication channels used by the global crypto community,” said Blockfolio CEO Ed Moncada. “Top token teams have recognized a need for this solution and we’ve invited the best of the best to be launch partners and help us shape the future of our platform. It’s an exciting moment for us, because this unique enhancement allows us to become the trusted communication network in the rapidly evolving blockchain industry.

To kickstart the Signal Beta, Blockfolio is collaborating with premier token teams including Dash, Civic, ICON, aelf, Decred, Kyber Network, Quantstamp, and others. Such teams that are eager to set an example for the rest of the platform have been among the first invited to use Signal, in order to uphold high standards of accountability and transparency, consistent with Blockfolio’s core values.

Ryan Taylor, CEO of Dash Core Croup, commented:

Dash Core Group is proud to be part of the Blockfolio Signal beta. Blockfolio Signal provides a valuable channel for Dash to reach its followers directly and without noise. We are now actively testing and learning how best to leverage the platform.

Loi Luu, CEO of Kyber Network, added:

Blockfolio’s Signal provides an excellent platform for users to keep up-to-date with projects with critical information direct from the project teams. Kyber Network has benefited immensely from Signal, as it allows us to reach our followers more directly and effectively with minimal effort. From our recent mainnet launch to important token pairs listing announcements, we went with Signal as the first platform to disseminate the information to our community.

Vinny Lingham, Civic Co-Founder and CEO, concluded:

We’re happy to be part of the first batch of teams using Signal and our community has had a very positive response to the first Civic Signal we sent out. With Signal, the Blockfolio team is delivering on it’s new mission of tackling the issues around misinformation and communication in crypto. With millions of global users, and CEO Ed Moncada, as a founding board member of top cryptocurrency Dash, providing firsthand experience and a deep understanding of the needs of the token teams, Signal is set to be a key communications channel for token teams.

Blockfolio also announced the raise of a $3 million seed round from top investors, including Playground Ventures, L2 Ventures, and DCM Ventures, a $1.7B venture fund with investments across the globe, including in major crypto markets like South Korea, Japan, and China. This funding will be used to further develop efforts around Signal and onboard more of the 3,000 token teams that have partnered with Blockfolio.

The crypto ecosystem continues to grow, leading to an increase in both the number of crypto traders and number of digital tokens which now have a combined market cap of over $400 billion,” said David Chao, General Partner of DCM Ventures. “We believe Blockfolio’s Signal product has the potential to become the most trusted communication channel for token development teams to reach their token holders, amid the increasingly common problem of fraudulent messages being sent by crypto scammers on platforms like Twitter and Reddit.

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