a Blockchain-platform Telegram Open Network (TON) and cryptocurrency Gram will not run, said the Creator of Telegram, Pavel Durov. To create a platform, the team raised $1.7 billion, have already spent $500 million Now the actor is supposed to bring back all the investors at 110% of the amount invested by 2021. It turns out that he owes about $1.9 billion is a Free app Telegram this money can not earn. But it can be sold. Will this subtitles.
About attracting investment in the creation of a blockchain platform with a TON of internal cryptocurrency Gram command Telegram announced in early 2018. Based on the platform had to work the payment system, file storage, and services to create applications and much more. TON would monetize Telegram, which, being a free app, has no operating profit. While the messenger a huge audience of 400 million people worldwide. They were supposed to be potential users TON.
To create a TON of Telegram and its sister company, TON Issuer operating in the United States, sold 2.9 billion tokens (blockchain-analogue of the shares) in the amount of $1.7 billion.
interestingly, almost half of the applications from investors Durov rejected – they wanted to invest $3.7 billion. However, shortly before the launch of the platform a ban on the production of Gram has left the Commission at the securities and exchange Commission (SEC). Pavel Durov was questioned, he refused to recognize Gram securities. However, the SEC has made recognition of the cryptocurrency security. So Gram was in the jurisdiction of the financial regulator of the United States, who considered its use inappropriate. The American authorities imposed penalties on the company TOB Issuer Inc and has achieved its closure. Gram banned the transfer to buyers and buyers are forbidden to keep tokens in their crypto-wallets. Development TON the team spent about $500 million.
By the way, during interrogations SEC Durov told the story of the creation of the Telegram. According to him, the messenger was developed through personal money Paul and investments private American investor.
After years of litigation, the actor announced that he and Telegram is no longer involved in the project of TON. He spoke harshly about the actions of the US authorities, accusing them of using their control over the dollar, the global financial system and technology.
However, the development has not been destroyed. Almost immediately after Durov’s refusal to run a TON a TON of Free Community, which includes its developers and potential users, has launched its own version – THANK Free.
But investors were invested in Durov’s blockchain project and now are waiting for their money back.
the SEC has disclosed the names of American investors, mostly venture capital funds and representatives of Silicon valley. Among them – the founder of the platform for creating WordPress sites Matt Mullenweg, cofounder of social network Foursquare Naveen Selvadurai and others. It is also reported that Telegram collaborated with banks BNY Mellon and Credit Suisse AG. By the way, in early may, the actor announced that citizens of the United States he returned only 72% of the invested funds. In a recent statement, he said that on 110% will get everything, but the Americans later due to regulatory delays. As for the Russians, it is about supporting initiatives Durov openly declared Russian billionaire Roman Abramovich, it invested in the project $300 million Invested in the project and now convicted ex-Minister and businessman Mikhail Abyzov. All the investors according to various sources, 170-175 people.
In a conversation with “MK” the Internet Ombudsman Dmitry Marinichev suggested that each of the investors was conducted individual negotiations and put forward a personal proposal: “These people understood what was invested and weigh all the risks. Worked regulatory risk.
it is Impossible to claim that Paul is obliged to return the money, he didn’t take credit. He made a public statement – not for investors, it is a signal to society. He made it clear that dissociates itself from the TON, but did not rule out that someone else can use the technology. On the one hand, it’s PR, and with another – an allusion to the fact that bridges are not burned. I think that we will see a turn of history.”
According to Marinicheva, it is not excluded that the actor will share the shares in the Telegram, but is unlikely to abandon control over the messenger. The Internet Ombudsman considers that the application has a great potential for capitalization. “Brought enough money, to develop a messenger and perhaps to bring the audience up to 1 billion people. However, keep messenger, bringing operating profit, very not easy,” he said.
Director of the Academy of management Finance and investment Arseniy Dadashov agrees: “it is Possible that the actor will resume the project on behalf of another company and loyal jurisdiction.” The expert recalled that just after the intervention of the American authorities failed launch of Facebook’s own cryptocurrency. “Obstacles of financial regulators in the development of independent payment systems can undermine the reputation of blockchain projects. Durov had a reputation of techlogica-bully. I think investors were surprised by his complete capitulation to the SEC – he said, – it is Unlikely that the founder of Telegram sell their share. The arrival of another owner is fraught with abuse the personal data of users, as it happens in WatsApp. He will try to find another way to monetize messenger”.
Analysts do not undertake to estimate the capitalization Telegram without running Gram. The previously cited estimates that every Gram will cost $5,9, and all of them will be released on $29.5 billion. It is worth Telegram.
the operation of the messenger Durov costs tens of millions of dollars. It is known that only $13 million annually is spent only on servers, messenger at the facilities of several companies in the United States and Germany.
Read the “Billionaire Durov called for revolution against the United States”
