The Telegram messenger system is a secure online system developed in Russia. It has now become the communications system of choice for enthusiasts of cryptocurrency. The messaging service has almost 200 million users around the world. Telegram is now about to use that popularity to benefit financially. It is doing this through a planned ICO this year that could raise up to $2 billion. This is way above the biggest cryptocurrency deal to date in fact about 1000% bigger!
Telegram Messenger the Cryptocurrency Communications System of Choice
The telegram has become the communications system of choice for the cryptocurrency community and is rapidly gaining in popularity. The planned ICO by the Telegram messaging service has already believed to have raised $850,000 of its billion dollar ICO. This against an initial target of $600,000!
It is thought that good discounts were offered for this initial amount raised. The pre-sale offer was made to major investors and venture capitalists. It is widely believed that they were who were likely offered some significant discounts on Telegram’s Gram token price (1 Gram = 10 cents US).
Is it possible for this to emulate other cryptocurrencies such as Bitcoin and Ethereum and multiply its initial worth by amazing amounts? Who Knows!
Telegram Open Network (TON), and the Cryptocurrency Gram
For those confused with the terminology, Pave Durov intends to launch a blockchain – Telegram Open Network (TON) – and the cryptocurrency Gram. Telegram will then become more than just a messenger, but also a payment system. This payment system is intended to compete with Visa and MasterCard. Durov has not yet officially confirmed this but it is widely believed to be the case.
TON Blockchain and Gram Cryptocurrency Unit.
Although the company’s pre-sale offering was initially aimed at raising $600 million it has exceeded this. As stated above, it appears to have been extremely popular and hit $850,000. Telegram is believed to be planning to raise a further $600 million. Its creators, the Durov brothers Pavel and Nikolai, have filed a Notice of Exempt Offering of Securities with the US SEC – you can read that here.
This filing relates to the development of the TON blockchain and to the development and maintenance of the Telegram Messenger. TON is an ultra-fast blockchain using the Gram, as its cryptocurrency unit. A blockchain is a decentralized ledger of cryptocurrency holds the records of all transactions involving the use of cryptocurrencies. It was originally used for Bitcoin but now applies to all cryptocurrencies. Each of these has its own blockchain.
Is Facebook Under Threat From Telegram Messenger?
Perhaps but, Telegram Messenger likely has higher targets ahead. According to Telegram users, Facebook may be one of these. Many are skeptical about this! Is it likely for a messaging application that is relatively unknown to the general population to oust an app such as Facebook as a social media king? Doubtful!
Telegram Messenger will likely be restricted to niches users only. Including, of course, those using the Gram cryptocurrency. However, one never knows what this crazy internet technology world will throw at us next!