Telegram plans ICO to build custom blockchain platform

The team of the popular messaging application, Telegram, is planning to introduce a blockchain platform Telegram Open Network (TON) with its native cryptocurrency called Gram.

The initial coin offering (ICO) may reportedly take place in March 2018 and it promises to be grand: it is planned to raise up to 500 million dollars in presales and 3-5 billion dollars during the ICO sales. 200 million Gram tokens, which is 4 % of the total supply, will be allocated to the Telegram’s team of developers with a 4-year vesting period. At least 52% of the overall supply will be retained in order to avoid speculative trading of the cryptocurrency, and the remaining 44% of tokens will be offered for sale in both public and closed auctions.

Having its own cryptocurrency Telegram, with over 180 million users, can become absolutely independent on the government and banks. The project will give an opportunity to transfer money anonymously, including to other countries, to make micropayments, etc., and users will be able to have digital wallets both with fiat money and cryptocurrency.