Telegram, the popular messaging app that supports end-to-end encryption, will soon launch its own blockchain platform and cryptocurrency.
According to reports by Anton Rozenberg, a former Telegram employee, the new platform will be called “Telegram Open Network” (TON) and is rumored to be based on a newer version of Blockchain technology.
On his Facebook page, Rozenberg released a teaser video for the platform (you can watch it below). TON will be of benefit to people living in an oppressive regime, as they will be able to easily and securely send money through the messaging app, he claims.
“Iran and Uzbekistan have not yet established an international financial system because of sanctions and financial reforms,” said Rozenberg. “On my last visit, it was impossible to find an ATM or EC / credit cards. It was paid in cash everywhere. ”
TON is a fast, scalable and easy-to-use crypto and blockchain platform. All telegram users will receive a TON wallet, which will allow them to transfer money within the TON network in the blink of an eye, as the TON network will be able to handle several million transactions per second.
According to the CoinTelegraph, the TON wallet will be called “Gram”. The network will not need large downloads or other blockchain wallets to make daily transactions as easy as possible.
Telegram, with over 180 million active users and worth billions of US dollars, will also serve as the launch pad for the TON network, as the platform does not have to go through the bootstrap program, which often takes several years.