Telegram Open Network (TON) is the latest gift that blockchain technology is about to give this world. Russia's social media mogul, Pavel Durov, is about to launch a fast, secure, and efficient social media platform. Durov and created a $3 billion company through the social media site, VK.
The main motive behind the creation of TON is to aid those who live under oppressive regimes. The new platform will probably be an extension of Telegram, a famous messaging application.
Durov will not only be launching this platform, but also a cryptocurrency that might go by the name of gram. He claims that the new cryptocurrency will break the state's control over its citizens money.
No trouble launching
TON won’t have trouble launching, as Telegram already boasts around 180 million users. Most of the users are from the cryptocurrency market. However, Iranians are also major portion of this number. According to Bloomberg, Iran generates around 40% of the traffic of Telegram.
The Iranian government is so frustrated with the privacy settings of Telegram, that they have charged Durov with terrorism. However, this does not faze Durov’s ambition, as this is not the first time that he is being prosecuted by a government. When he declined to give user information from the VK platform to the Russian government, he was made to sell his portion of the company to a close acquaintance of Putin. He left Russia after that and bought residency in a Caribbean nation.
While Mark Zuckerberg used an IPO to raise money, Durov will be using an ICO to monetize his product. Durov is a staunch supporter of privacy and claims that he will never sell Telegram, because the privacy of his users is invaluable.
In the modern world, where privacy is a major concern. People like Durov have a very strong following over the internet. His staunch support for the privacy of his users has made him very popular in the online community. The cryptocurrency and blockchain community supports him for the very same reason. The majority of the community uses Telegram for their communication. When asked if he would ever sale Telegram, Durov answered, “even for $20 billion, it’s not for sale. That’s a lifetime guarantee.”