{"id":15390,"date":"2020-01-11T13:38:16","date_gmt":"2020-01-11T13:38:16","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=15390"},"modified":"2020-01-11T17:23:38","modified_gmt":"2020-01-11T17:23:38","slug":"telegram-tries-to-appease-the-sec-no-grams-in-messenger","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2020\/01\/11\/telegram-tries-to-appease-the-sec-no-grams-in-messenger\/","title":{"rendered":"Telegram tries to appease the SEC \u2014 no Gram tokens in Messenger"},"content":{"rendered":"

Telegram, best known for their messaging software, wanted to start a massive international private currency \u2014 they would call it Grams,<\/a> and make it available in the Telegram Messenger software, used by hundreds of millions of people around the world!<\/em> And sell Grams on cryptocurrency exchanges.<\/p>\n

Telegram sold $1.7 billion worth of Grams \u2014 and that was $1.7 billion in actual money, not cryptos \u2014 to big-ticket investors with more money than sense, who wanted to get into crypto<\/i>.<\/p>\n

Now, the bit about Grams being right there in software used by milions? Yeah, about that …<\/p>\n

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The TON blockchain was technically ambitious \u2014 and weirdly incoherent. A lot of the ideas had actually been rejected from Ethereum five years previously.<\/p>\n

But you can say any nonsense in a white paper, and it fundamentally doesn’t matter \u2014 you don’t need much of a system just to run a private currency.<\/p>\n

And so the actual sales agreement<\/a> doesn’t promise much of a network, and certainly not all the bafflegab in the TON white papers \u2014 it just promises that there will be a network of some sort, the tokens will exist on it, and the tokens will be available in Messenger. [Purchase Agreement for Grams<\/i><\/a>, PDF<\/i>]<\/p>\n

The public promotional video trailer also promises Grams in Messenger. [YouTube<\/a>, video<\/i>]<\/p>\n

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