It might eventually turn into Wave, then? Federated merge resolution with signatures sounds very Wave like.
A similar project that's gestating at the moment is Subspace: https://www.bitcoinauthenticator.org/subspace/ It's being developed in the Bitcoin community because we need a way to move small pieces of data around outside of the core Bitcoin P2P network, whilst still being decentralised. But Chris Pacia who is designing it has already made a prototype messaging app that uses it for both 1:1 and group chats. Subspace is a much smaller project than Matrix though. A well built general messaging system (that is not email) would make many interesting apps easier to write.
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