Cryptocurrency, and the blockchain technology that underlies it, has long promised to change the way we use money online. But after decades spent on the periphery, the revolution could finally come into the mainstream once and for all, thanks to tech company Telegram and its Gram token. Now all Telegram has to do is beat Facebook to the punch. advertisement advertisement Telegram, the messenger app founded by underdog tech icon Pavel Durov, is in court this week over its commitment to revolutionize online transactions. His proposed blockchain platform, the Telegram Open Network (TON), was revealed in 2017 and promised to create a cryptocurrency wallet tied to the Telegram app itself. The tokens, known as Grams, would be an example of “social crypto,” a digital currency tied to a major social media platform and its user base. If successfully launched, Telegram’s 300,000 users will be able to send money to each other instantly, simplifying remittances, payments, and other transactions. But TON caught the eye of the U.S. Securities and Exchange Commission, which successfully filed for a cease-and-desist order before TON’s launch last October pending a hearing—one that started this past Wednesday, over whether the company needed to have registered with the… Read full this story
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