Messaging App. Telegram to Launch Crypto Currency “Gram”

Updated On Dec 27, 2017 by Cameron Bishop

Messaging App. Telegram to Launch Crypto CurrencyTelegram, the popular encrypted messaging app, will soon launch its own improved version of the block chain platform and crypto currency token that would allow transfer of money through the messaging app. The new platform will be christened as “The Open Network” or “Telegram Open Network” (TON).

The announcement came from Anton Rozenberg, a former employee of Telegram’s publishing division Telegraph. Rozenberg released an advertorial video of the proposed platform on Facebook. Further, Rozenberg pointed out that TON would enable people living under oppressive governments to transfer money directly through its messaging app. That would crack a state’s control over its citizen’s money. The currency of TON is going to be known as “Gram”, according to a report on Cointelegraph.

The block chain platform will be integrated with several other messaging apps and utilize light wallets, making it easier to use. Telegram already has about 180 million users, according to Bloomberg. So, the platform is expected to gain popularity very quickly. Acknowledging that, Cofounder of Telegram, Pavel Durov stated that

“Like right now, the entire block chain and crypto currency community just switched to Telegram.”

In 2013, Pavel Durov joined hands with his brother to launch Telegram application. The end-to-end encryption has made it popular among citizens living under oppressive regimes. Telegram accounts for nearly 40% of Iran’s internet traffic. Unsurprisingly, Iran has charged Durov of terrorism.

Durov, who currently shuttles between the Caribbean and Dubai, is also the creator of Russia’s largest social network platform VK, which was eventually taken over by the Vladimir Putin’s ally. Durov, who values freedom and privacy, has rejected offers for Telegram and has categorically stated that it is not for sale even at a price tag of $20 billion. So, the crypto market would be eagerly looking for his block chain based payment system.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

Comments are closed.