Telegram has made an announcement on its official website, saying it’s not going to launch its new blockchain platform called TON and the Grams cryptocurrency until it has the green light from the US regulators.
It has also been mentioned that, even while some websites are already offering Grams presales, the token doesn’t exist, as the company didn’t issue it yet. It seems the TON Blockchain that’s going to use the tokens is still in Beta Test and only after its launch, the Grams will become available for buying.
TON Will be a Decentralized Community of Third-Party Developers
As clearly pinpointed by Telegram, TON is going to be decentralized and maintained by third party contributors. This means others will contribute to its ecosystem by developing apps and smart contracts. More than this, the third parties will have the responsibility to both adopt and implement the apps and smart contracts they’re creating for TON however they see fit. Further on, Telegram has mentioned it may never maintain the platform, nor create any app for it.
Telegram Won’t Be in Control of TON
The TON Blockchain code is going to be open source and visible to anyone. Telegram won’t be in control of it, nor it will have any unique rights or managerial responsibilities when it comes to the platform. However, it will be possible for the company and its employees to hold Grams after TON is launched.
Grams Holders Shouldn’t Expect to Automatically Get Rich
As a third point, Telegram mentions that holding Grams doesn’t necessarily mean getting rich, nor that shares at Telegram will be owned by those who have bought the tokens. It clearly says Grams are not investment products and only meant to be used as exchange tokens in the TON ecosystem. It’s even stated that since the crypto market is quite risky at the moment, Grams can even make their holders poorer.
A Crypto Wallet Won’t Yet Be Integrated with the Messaging App
Telegram won’t yet create a crypto wallet for its instant messaging app, at least not until the US regulators will give their approval for such a service. This has also been posted on Telegram’s official website on January 6. Both announcements arrive just before the company’s CEO will make a deposition on January 7 in Dubai.