Telegram He rushes to launch his cryptocurrency called “Gram ”, It was announced last year and raised 1.7 billion dollars with the promise of be available for October 2019; otherwise, the carrier company must return all money. This can be a method of payment for purchases in the application, remembering the pound of Facebook.
According to the New York Times, Telegram had promised in an agreement with investors that it will make its cryptocurrency available Gram before October 31 or return the money, that is why the company wants to launch its cryptocurrency before that date, but will be forced to indemnify investors.
In 2018, Telegram made an initial coin offer (ICO) and raised 1.7 billion dollars, this amount was thanks to approximately 200 investors. The money will be used to develop the blockchain of Telegram Open Network (TON) and keep the messenger application.
The transactions of Gram will be registered in the blockchain TON. This network also promises to host decentralized services such as distributed file storage or the VPN proxy. According to the investors of this cryptocurrency, Telegram launch a trial version in two weeks.
The idea is that Gram be used to buy and sell products within Telegram, without the need to use common money. The application has between 200 million and 300 million users; they may have one virtual wallet to store the cryptocurrency.
Gram may go through the same position as Facebook Pound
The value of the cryptocurrency Gram be established by a decentralized network, not by Telegram. It is a different approach to the Facebook cryptocurrency, "Libra", than to be backed by traditional currencies such as the dollar, the euro and the yen.
A bill in the United States wants to prevent Facebook from acting as a financial institution; The president of the United States, Donald Trump believes that the "Libra" should be regulated. Two members of the Libra Association already want to give up the cryptocurrency before its launch in 2020.
Telegram can face these same problems when launched Gram The cryptocurrency has not yet caught the attention of the authorities because it has developed in secret since last year.
Even before its launch, Gram is subject to speculation, some investors already give third parties the right to obtain cryptocurrencies when available. Each unit was sold during the ICO for up to 1.33 dollars; are being resold by Up to 4 dollars a unit.