The encrypted messaging startup Telegram is the latest company to get te on the blockchain and digital currency craze. According to a report by Tech Crunch, Telegram plans to launch its own blockchain verhoging spil well spil a native cryptocurrency which can be used for payments within the talk app. (See also: Telegram Is Growing Swift!)
While a number of vooraanstaand businesses have made moves into the blockchain area ter latest months, this one may be different for a few reasons. Very first, the “Telegram Open Network” is purportedly a fresh type of blockchain with more powerful capabilities. And, perhaps spil importantly, the ICO which will launch the podium, and the currency aims to be one of the largest yet.
Pre-Sales Fuel ICO
The launch of the fresh network is reportedly going to be funded by a massive initial coin suggesting (ICO) which will include private pre-sales. Thesis pre-sales could range into hundreds of millions of dollars, which would make the Telegram ICO one of the largest of all time.
What could make Telegram’s efforts ter this area different from many others? While most ICOs have aimed to launch fresh startups, Telegram is unique ter that it is a well-established and successful pre-existing business.
One major reason why Telegram may be interested te getting into the cryptocurrency space has to do with its payment system. Converting to an in-house cryptocurrency would suggest Telegram exceptional levels of independence from outside regulators. This feature would potentially permit users to circumvent remittance fees for international payments and transactions. It would also permit users to budge potentially large amounts of money privately and via encryption.
Users could even make micropayments that would otherwise not be worthwhile because of relatively high credit card fees. The fact that Telegram is already very popular among cryptocurrency enthusiasts around the globe makes the uitzicht of a fresh digital currency te this area even more enticing.
Phat Cryptocurrency Sale
Reports suggest that Telegram may raise spil much spil $500 million ter sales before the ICO. This would peg the potential total token value for the upcoming cryptocurrency spil high spil $Five billion. However, thesis figures may switch, spil the ICO is likely many weeks away. If those figures do hold up, tho’, Telegram’s ICO could be the largest of all time. (See also: Initial Coin Suggesting Market Passes $1 Billion Milestone.)
Investing te cryptocurrencies and other Initial Coin Offerings (“ICOs”) is very risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest ter cryptocurrencies or other ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties spil to the accuracy or timeliness of the information contained herein. Spil of the date this article wasgoed written, the author possesses cryptocurrencies.