Telegram Issues Cryptocurrency - Gram

Telegram will issue its own digital currency named – Gram. The New York Times shared the information about the company’s intention to launch TON (Telegram Open Network). Plans are going to come true about November 2019. Despite rumors about canceling the cryptocurrency project, Telegram team reported that they have a strict deadline of October 31st, in another case, they will lose the 1.7 billion of invested funds.

Keeping with a Facebook trend of issuing virtual coins, Telegram didn’t present much information about the Gram. The developers of encrypted messenger are known for briefness. But this time Gram project is likely to come into official use. Plus, the cryptocurrency will have relevant digital wallets where 200-300 million of Gram holders can store their currency. The beta version is scheduled within the next couple of weeks.

It is supposed that Gram is going to be the next decentralized cryptocurrency similar to Bitcoin, which allows making payments anywhere in the world. This fact makes regulators alert as any illegal business players can use it for money laundering or other bootleg operations.

The Telegram creator, Pavel Durov, known as a libertarian who pays little attention to the government authority. Thus his company also admitted that Gram wouldn’t be controlled by Telegram while being in turnover as it will be free of any state watchdogs.

In July 2019, the company run closed testings on TON for app developers. The TON Labs opened the first set of open source tools for product development, testing, and release, together with TON Dev platform. The tools of TON ecosystem become more and more suitable for the TON-based product integration into third-party apps.