The SEC, however, alleged TON was a scheme to evade federal securities laws in an October 11, 2019 complaint. In the complaint, the SEC asked the U.S. District Court for the Southern District of New York for an injunction blocking the Grams sale.Read more
Durov intended TON as social media for money. To explain, TON’s goal, like Libra’s, is to enable anybody to send funds anywhere in the world at the press of app.
Thus, TON offers a totally offers a new model of finance, a decentralized currency anybody could access. Libra, however, extends the current finance system of centralized banking into the blockchain. In fact, I think the Libra Association looks like a global Central Bank.
The reason a person buys a tech company like Alphabet (NASDAQ: GOOG) or Microsoft (NASDAQ: MSFT) is that they generate a lot of cash. At the end of the day, Twitter simply does not have much cash.Read more
Unlike most ICO companies, Telegram has an established business but it is not clear if that business makes any money.
The plan is for Telegram users to send money through TON, which would transform Telegram from a humble messaging app to a financial network. That would make it a sort of PayPal or Venmo for blockchain applications. It would also be perfect for international remittances, money immigrants send to folks back home.Read more