Bitcoin, Cryptocurrency And Blockchain News

Telegram Will Launch a Blockchain Platform

Telegram's Own Blockchain Platform and Cryptocurrency


Most platforms seem to be adopting blockchain and cryptocurrency these days thanks to the ample benefits these technologies offer. The latest to hint about launching its own blockchain and cryptocurrency network is Telegram, a well-known messaging app that boasts high-end encryption.

A former member of Telegram’s publishing division, Anton Rozenberg, posted this message on his Facebook page, claiming that the platform will be dubbed “Telegram Open Network”. It was posted along with a teaser advertising video.

TON to Be Used to Aid Users Living Under Oppressive Governments

Telegram Open Network is basically a user-friendly cryptocurrency built on the blockchain platform, allowing users to transfer money quickly and securely from one wallet (light wallet) to another.

According to Rozenberg’s post, one of the uses of TON is to aid users that are living under oppressive governments, allowing them to transfer money swiftly using its cryptocurrency, as well as create smart contracts. It will offer an attractive feature that favors countries governed by authoritarian regimes.

“In Iran and Uzbekistan, no international financial system has been established because of sanctions and financial reforms. The last time I was there it was impossible to find ATM or cards. Cash is used everywhere.”

There has been no official comment by representatives of Telegram or its creators about this new blockchain platform on the block yet, so it is as yet unclear if the company will push forward with the plans or not.

However, Telegram’s co-founder Pavel Durov commented that he was thinking of finally going ahead with expansion plans and monetizing the platform, and this would be best now that the app is being used by blockchain community.

Durov said,

Right now, the entire Blockchain and cryptocurrency community just switched to Telegram.

Telegram boasts more than 180 million users, thus with many of the customers adopting the new platform, it will disrupt the cryptocurrency market, especially considering that the platform is famous for using end-to-end encryption technology.

How do you feel about the rumor that Telegram will finally launch its own cryptocurrency and blockchain platform? Will this have an impact on the industry? How about the competition the cryptocurrency will have with other major coins in the market? Let’s hear your thoughts in the comments below.