Telegram allegedly has bigger plans than becoming a super secure chat program.
The encrypted chat app is rumored to be launching their version of Bitcoin which could rival current cryptocurrency networks.
The popular encrypted messaging app Telegram will launch its own Blockchain platform and cryptocurrency, according to sources familiar with the matter. The new platform will be dubbed either “The Open Network” or “Telegram Open Network” (TON) and is supposed to be based on an improved version of Blockchain technology. […]
Cointelegraph learned that the currency of TON will be called “Gram” and the platform will be natively integrated with many of the most popular messaging apps (it’s not yet certain which ones). The platform will utilize light wallets, making it unnecessary for users to download a large and unwieldy Blockchain. (Cointelegraph)
Like Bitcoin, Gram could potentially be disruptive to fiat (or real) currencies, especially for residents in repressive nations seeking alternative ways to keep more of their money in their (digital) pockets.
Gram could also help popularize cryptocurrencies (beyond the current tech circles) by allowing users to securely send funds to charities, disaster relief groups, startups in third world nations, women trapped in human trafficking & independent reporters/bloggers without dealing with expensive currency exchanges & intrusive governments.
Unfortunately, just like Telegram, Gram could potentially be abused & misused by terrorist groups, human traffickers & illicit drug dealers making it harder for authorities to thwart these societal threats (at least financially).
Hopefully Telegram can figure out how to balance the benefits of using a cryptocurrency without empowering evildoers as the world needs a popular alternative to fiat money (especially with America’s deficit surpassing $20 trillion!).
Disclosure: I am an avid fan of Telegram, & you can message me at @Darnell.
