Telegram has hinted that the first lots of its Gram cryptocurrency will be available to a select group of investors in October 2019, in addition the firm Pavel Durov also plans to make the Gram wallet available to almost 300 million Telegram users in a short time .
Telegram advances with GRAM
According to sources close to the matter, in an attempt to fulfill its promise to investors, Telegram is putting the preparations to the maximum so that its Gram tokens are available to some investors in the next two months.
Like Facebook’s Pound, the Telegram Gram token is designed to function as a global currency, which makes it easier for people to move money around the world in a safe and cost-effective way, however, unlike Libra, Telegram has hinted that Gram will be completely decentralized
Telegram claims that its distributed ledger, Telegram Open Network (TON), will be operated by operators of nodes scattered around the world, similar to the Bitcoin blockchain. In essence, even Telegram itself will not have control over Gram transactions.
Racing Against Time
In early February 2018, Telegram successfully raised the huge amount of $ 850 million during its initial pre-sale of coin offer (ICO), which was open only to high-equity individuals and venture capitalist companies.
Reportedly, Telegram previously promised its high-profile sponsors, which include Benchmark and Lightspeed Capital, as well as Russian investors, who will have access to Gram tokens purchased before October 31, 2019 or get refunds.
In an attempt to meet Gram’s scheduled launch date for these investors, Telegram seeks to launch the Gram network test network in the coming weeks, to ensure that there are no errors that could ruin their plans.
If everything goes according to plan, some investors may exchange their Gram tokens in compatible exchanges, however, those who participated in their pre-ICO may have to wait a little longer.
While the Facebook Libra Project has not yet received the “blessings” of financial regulators in both the US. UU. As abroad, it is still unclear how Telegram plans to climb these huge regulatory mountains pending its multi-million dollar crypto project.