Telegram: we will not control the TON blockchain platform

The Telegram team published information regarding the Telegram Open Network (TON), emphasizing that the blockchain platform willan open, decentralized and uncontrolled company.

The Telegram blog says that around the projectthere are “a lot of rumors and speculation” that the company will not comment on. However, the project considers it important to clarify several aspects while its team is working to bring TON into "compliance with all laws."

Key points:

• Gram coins still do not exist, you can buy or sell it only after the launch of the TON network. The company warns about fake token sales.
• The network will be decentralized and publicly available. After its launch, Telegram will have no obligation to support the platform or create any applications for it.
• Telegram will not be able to control the blockchain and ecosystem after they are launched.
• Purchasing tokens will not mean that their holder owns a part of the company and can count on receiving income.“Gram does not give their holders any special rights, just as holding a euro does not give you a share in the EU.”Thus, the company emphasized that Gram is not an investment product, but only a means of exchanging value between users in the TON ecosystem.
• Cryptocurrency transactions are risky and fraught with losses, including due to many external factors.

Among other things, Telegram "does not undertake any obligations and does not promise the creation of a TON Foundation or similar organization ever in the future."

Ton wallet

At the time of the expected launch of the main network of the project, the TON wallet will be available as a Standalone application without integration with Telegram Messenger.

“In this regard, TON Wallet is expected to compete with any other wallet applications provided by third parties.”, - representatives of the project added.

In the future, the company may introduce a TON wallet in Telegram Messenger, however, the depth of this integration will depend on the laws and government regulations.

The plans to launch the Telegram Open Network became known at the beginning of 2018. For the implementation of the Telegram Group Inc. project and its subsidiary TON Issuer raised $ 1.7 billion.

In October, the US Securities and Exchange Commissiondoubted the legality of the project and demanded the stop of the TON messenger blockchain project, as well as a ban on the distribution of Gram tokens. The regulator considers the latter to be unregistered securities.

Telegram did not agree with the position of the regulator,emphasizing that they registered duly closed placement of tokens that are not securities. However, the company decided to postpone the launch of the blockchain project.

Recall that Telegram investors refused to demand a refund and agreed to postpone the launch of the platform in April.