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    January 5, 2018

    Telegram reportedly plans to launch its own blockchain platform, cryptocurrency

    Telegram cryptocurrency

    CoinTelegraph reports that popular messaging app Telegram is preparing to launch its own blockchain-based platform along with a native cryptocurrency.

    Telegram has competed with WhatsApp throughout 2017 – drawing in some 170 million users – and has debuted a number of forward-thinking features; however, CoinTelegraph reports that the company could be preparing its biggest update yet through the debut of a new blockchain-based platform and native cryptocurrency.

    According to CoinTelegraph, Telegram plans to launch its platform – dubbed either  “The Open Network” or “Telegram Open Network (TON)” leveraging blockchain technology.

    Read: Litecoin founder Charlie Lee sells all his LTC to avoid ‘conflicts of interest’

    The platform, according to former Telegram employee Anton Rozenberg, would debut with the promise of affording citizens of repressive governments with the ability to transfer money through the app.

    The platform’s currency would purportedly be called ‘Gram’, while the service’s users would be afforded with light wallets – obviating the need to download a large blockchain.

    According to Rozenberg, ‘Gram’ would be leveraged in not just Telegram, but other popular instant messaging apps in the near future.

    CoinTelegraph provided an apparent advertising video describing the Telegram Open Network in detail, though its legitimacy remains unconfirmed:

    At the time of writing, Telegram has yet to respond to these claims – should we receive a statement, we’ll update this article accordingly.

    Telegram has gathered acclaim for its focus on privacy – the service was one of the first instant messaging applications to offer end-to-end encryption, and the application itself remains popular among cryptocurrency enthusiasts who have used the platform to exchange trade recommendations in the past.

    Should the platform elect to launch a blockchain platform and native cryptocurrency, it could well become the most accepted cryptocurrency on the international stage.

    Read: North Korea could be leading continuing attacks on South Korea’s leading cryptocurrency exchanges

    What are your thoughts? Would you be prepared to use an open network and accompany cryptocurrency on a messaging app? Be sure to let us know your opinion in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

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