Community and analysts not very enthusiastic
The own TON block chain will continue to be a great success for the Telegram company. In particular, many industry insiders saw the announcements for the globally successful instant messenger service as a clear reaction to WhatsApp owner Facebook, which wants to launch its own digital currency with Libra. And this is also in opposition to political resistance, which is becoming increasingly fierce not only in the Facebook home country, the USA. In addition to the plans of the U.S. Congress to ban and regulate stablecoins like Libra, there are calls in Europe for a kind of digital euro. The G7 consider Stablecoin to be a risk. In the case of Telegram, the situation was somewhat different, but authorities also criticised the service. Potential users, on the other hand, are often eagerly awaiting the blockchain launch. Now there are new Telegram statements, which some potential users will take a negative view of.
New wallet service should “work” alone
Many commentators who were surprised by the news expressed disappointment with the new news from Telegram. The company announced that the wallet for the block chain and currency is not intended for installation in the actual messenger service. However, many interested parties had expressly expected this in order to be able to access the new service flexibly. At least for the time being, Telegram has thus thwarted the wishes of many crypto fans who had hoped that the introduction of the wallet would offer another exciting alternative to Bitcoin and Libra. From the point of view of the TON investors, too, the news is not necessarily pleasing, although they should probably have received relevant information earlier. Nevertheless, the announcement means that the TON Blockchain wallet will stand on its own feet, so to speak, and will be a success, independent of the service provider’s messenger.
SEC investigations remain a problem for Telegrams Plan
Telegram wants to expand its wallet offer to a competitive format to other wallets on the market. This gives rise to hope for users, as the company does not rule out a change in this direction. Provided that integration can be in line with (inter)national regulations and legal situations, it is certainly possible to include the wallet in the communications app. It is precisely these regulatory concerns that seem to be the reason for the company’s initial plans. After all, the US supervisory authority SEC still prefers to withdraw the Mainnet for the TON block chain and the system token Gram from circulation at an early stage. Lastly, the authority once again demanded that important documents be made available to the public, whereby this was largely about the billions in revenue generated by the company’s “controversial” ICO.