How Big of a Crypto Catalyst Will Telegram Become as Messenger Set to Lead the Security Revolution?
- Established blockchain ecosystems (such as BTC, ETH) still do not possess the framework to replace existing payment protocols due to their limited tx capacities.
- Respected crypto analyst Alex Sofpel’s research shows that Telegram’s GRAM token could generate up to US$4 billion in revenue within the next 3-4 years.
Over the course of the last few years, blockchain technology has provided businesses across the globe with a number of innovative solutions to tackle problems associated with things like:
- Facilitation of secure payments
- Streamlined data storage and maintenance
- Logistic support
- Item digitization
However, it should be pointed out that till date, the adoption of this burgeoning technology has largely been impeded by various governments and centralized banking institutions of the world — since it allows people to govern their finances, personal data in a completely decentralized fashion.
Lastly, at the time of writing this article, there exist a number of blockchain-based solutions that are helping businesses across the globe streamline their operational activities in an easy, hassle-free manner. With that being said, it still appears as though a lot of people view this technology with a certain degree of “suspicion” — primarily because the mainstream media has bashed this industry since its very inception.
A Closer Look at the Matter
In regards to the aforementioned matter, two Russian brothers were recently able to procure a whopping sum of US$2 billion so as to devise a blockchain protocol that could help users process millions of tx’s per second in a fast, secure and scalable manner.
The brothers, Pavel and Nikolai Durov — who are also the same people behind encrypted messaging service ‘Telegram’ — claim that they now possess the technological capabilities to formulate a blockchain governance system that can make day-to-day processes for large-scale companies easier (without compromising on the security side of things).
Other Details Worth Pointing Out
As many of our readers may be aware of, after months of delays, Telegram’s PR team recently released a statement claiming that they were all set to launch a beta version of its popular app to users across the world.
Additionally, it should also be mentioned that in Iran, Telegram was being used by more than 40 million people, before the country’s government banned the app — claiming that its coin offering (the GRAM token) was beginning to rival the nation’s local fiat currency (thereby jeopardizing its economy in a big way).
Telegram is currently one of the biggest rivals for not only popular messaging apps but also for established payment systems — since it allows users to participate in the aforementioned activities in a completely streamlined manner. However, as the crypto market continues to grow, it appears as though the folks over at Telegram want to “expand their sphere of influence” by providing the masses with a blockchain platform that is governed by its very own native currency (the ‘Gram’ token.)
In closing out this piece, it should be pointed out that even though many people are of the belief that Telegram’s latest offering will redefine the crypto sector as we know it, there still exists a reality wherein the company’s founders have time and again had issues with regulators despite them providing local authorities with a host of sureties in relation to the strict maintenance of required KYC and AMLR protocols (primarily when dealing with any money related matters.)
If in the future the Durov brothers are able to bring the various governments of the world onboard with their vision, Telegram could very well spearhead a fintech revolution — all while allowing investors to make millions of dollars in the process.