Technologies

NYT: Telegram promised to launch cryptocurrency before October 31. Otherwise, the company will return the money to investors.

The team of Pavel Durov plans to release a test version of Gram in the coming weeks.

Telegram has promised investors to launch the Telegram Open Network (TON) blockchain platform and issue their own Gram cryptocurrency over the next two months. This was reported by The New York Times with reference to three investors who recently spoke with company representatives.

According to investors, Telegram plans to create electronic wallets that can be used by 200-300 million messenger users. According to the commercial offer, to which the publication has gained access, Gram will become a new decentralized online currency, with the help of which “it is easier to circumvent the law”. After the currency is issued, Telegram will not be able to control its movement.

According to the publication, Telegram promised investors to release Gram before October 31, 2019, otherwise it will be required to return the money to them. The company expects to issue cryptocurrency even earlier than this deadline. A test version of Gram will launch in the coming weeks, investors said.

For the first time, the creation of the Telegram Open Network blockchain platform with the Gram cryptocurrency became known in early 2018. In March, Telegram raised $ 1.7 billion in investments. Initially, the company planned to launch Gram in the fall of 2018, but then moved the deadline to spring.

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