Telegram plans multi-billion dollar ICO for chat cryptocurrency

Last week we told you about how Telegram had become perhaps the most important social network in Iran. Now Telegram is planning to introduce a native currency to power payments on the app, a move that could generate hundreds of millions of dollars for the company. (Note that fellow messaging app Kik raised $100 million doing something similar last year.)

Durov’s idea is to launch an entirely new blockchain, using the Telegram’s 180 million users as rocket fuel to power forward into mainstream adoption off cryptocurrency and making Telegram, effectively, a kingmaker of other cryptocurrencies, because of its existing scale.
According to Telegram’s white paper that TechCrunch has review portions of, its cryptocurrency will be called “Gram” and could potentially gain immediate mainstream adoption by being tied to Telegram’s chat app.


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