Telegram the company said in a recent press conference that the company will not create any foundation members when it came to managing TON. In a press release, the management also emphasized that criptomoneda Gram will not be an asset of the company. TON stands for Telegram Open Network. TON will be an open source blockchain platform which will be decentralized and maintained by third parties. The company said that, it will not create any foundations and administrative entities to handle the project because the responsibilities and the roles will be in the hand of the developers and external contributors. The company has come up with this technology to rival the popular networks of Bitcoin and Ethereum.

The TON project has been in the pipeline since the start of 2017 which is built upon the blockchain technology. According to white paper, Telegram Open Network will offer greater scalability and will include applications, contracts and its own criptomoneda Gram. However the launch of Gram has been delayed on many times, due to regulatory conflicts. Against all the odds the company directors emphasized that neither its directors nor affiliates have plans to develop applications in the blockchain after its release. In this way they have stated that the company will no longer will be contributing to the development of TON. The company said that the network will be available for the public after it goes public. According to the statement made by the management of the company, the network is decentralized for all. This will be developed by the developers and contributors and is an extra advantage to the ecosystem.

Image Source: encrypted-tbn0.gstatic.com

The company has told that TON governance shall not lie in the hands of Telegram according to the statement of the company. The company also said that it will not create any separate entity or foundation which will be in charge of running their day to day operation. The TON network can be accessed publicly and is open to every individual. Because of this, the directors and employees of the Telegram will occupy a position which is at par with the users, following the launch of the network. Likewise, those members of Telegram wishing to retain Gram among them will not be able to participate in the voting and validation of the blockchain. The statement pointed out that, the decisions was voluntary and was made with the objective to avoid any perception that the Telegram or its employees can or will exert control over its employees.

In the sense the governance of the network rests in the hands of the users and not on the hands of the corporate. The manager of Telegram went onto several statements clarifying the operation and the current situation surrounding the Criptomoneda Gram. The company said that the Criptomoneda Gram will not yet be launched. The launch will only take place after the blockchain network is inaugurated. All the reports that relate Grams are reportedly false and have no such solid evidence. The statement said that Grams is yet not available for buying and selling. This will be available only after the blockchain network will go live. All this rumors is because, there were many websites and web pages on the internet that circulated the news of such token being already available. In the past such websites that have spread the news have been reported as scam, but however, due to the lack of information and secrecy of Telegram some of these websites have managed to survive.

Image Source: encrypted-tbn0.gstatic.com

On the other hand, developers have also had to specify that with the future purchase of Grams, the users will not become rich. The statement pointed out that the criptomoneda is not an investment product, nor does it represent an ownership interest in the Telegram or its affiliates.

Source: Currency Market


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