Ep 753 - The Ton Society Builds for a Billion Customers with Jack Sales space - Cryptotechtoday

Again in 2018, the favored messaging app, Telegram, sought to create it’s personal blockchain platform, the Telegram Open Community, or TON. With plans to launch a billion greenback token increase with an ICO, and already buying over $1.7 billion in funding from non-public traders, it was going to be one of many greatest ICOs of all time.

After which issues received… properly, difficult. Lengthy story brief, the ICO by no means occurred. As a substitute, the founders gave the blockchain undertaking to the group. And at the moment, Telegram is approaching 1 billion customers. The blockchain undertaking is open supply and improvement is transferring ahead.

As we speak we welcome Jack Sales space, a co-founder of the TON Society, to the present. A non-profit group devoted to decentralizing The Open Community (TON) and increasing group engagement, the TON Society could develop into a fantastic mannequin for a way open supply and group constructing can work on blockchain.

We’re going to inform a TON of jokes and have a TON of enjoyable on this what number of TON Puns are you able to inform episode #753 of The Dangerous Crypto Podcast.

Methods to Join with Dangerous Crypto

FEATURED GUEST: JACK BOOTH

Jack Booth of TON Society Jack Sales space is TON Society’s co-founder, a non-profit group devoted to decentralizing The Open Community (TON) and increasing group engagement. Beforehand, Jack served because the Advertising Director at TON Basis, the place he spearheaded development initiatives and strengthened the community’s world presence. With a deep ardour for decentralized applied sciences, Jack is dedicated to fostering innovation and constructing vibrant ecosystems round TON. His management continues to drive impactful community-focused tasks inside the blockchain house.

In 2017, Telegram, a preferred messaging app based by Russian entrepreneurs Pavel and Nikolai Durov, introduced plans to launch its personal blockchain platform, dubbed Telegram Open Community (TON). The undertaking aimed to create a decentralized web, permitting customers to entry a variety of providers, together with funds, file storage, and censorship-proof looking. To fund the event of TON, Telegram launched an Preliminary Coin Providing (ICO) in January 2018, searching for to lift $1.2 billion. The ICO was extremely anticipated, with many traders desperate to take part in what was touted as a revolutionary undertaking.

Nonetheless, the Telegram ICO was shrouded in controversy. The corporate’s whitepaper lacked technical depth, and lots of consultants questioned the feasibility of the undertaking.

Regardless of this, Telegram managed to draw vital curiosity, with non-public gross sales elevating $850 million in January 2018 and an extra $850 million in March 2018.

The ICO’s opacity and lack of transparency raised considerations amongst regulators and traders. The US Securities and Alternate Fee (SEC) launched an investigation into Telegram’s ICO, citing potential violations of securities legal guidelines.

In Could 2018, Telegram canceled the general public sale of its Gram tokens, citing regulatory uncertainty. The corporate had already raised $1.7 billion from non-public traders, exceeding its preliminary goal.

The Telegram ICO’s messy gross sales course of and lack of transparency led to criticism from consultants and regulators. Many questioned the undertaking’s viability, citing the Durov brothers’ restricted expertise in blockchain improvement.

Regardless of these challenges, Telegram continued to develop TON, releasing a testnet in October 2018. Nonetheless, the undertaking’s progress was sluggish, and the corporate confronted quite a few setbacks, together with a ban on Telegram in Russia in 2018.

In 2020, Telegram’s ICO was rebranded as a “safety token providing” (STO), with the corporate searching for to adjust to regulatory necessities. Nonetheless, the undertaking’s future stays unsure, and lots of consultants doubt its means to ship on its bold guarantees.

KEY TAKEAWAYS

Telegram’s ICO was extremely anticipated however lacked transparency and technical depth.
The corporate raised $1.7 billion from non-public traders, exceeding its preliminary goal.
The ICO’s opacity and regulatory uncertainty led to criticism and an SEC investigation.
Telegram canceled the general public sale of its Gram tokens in Could 2018.
The undertaking’s progress has been sluggish, and its future stays unsure.