During his speech at the Token2049 conference in Dubai, Pavel Durov, the founder of Telegram, expressed his commitment to blockchain technology.
During his speech at the Token2049 conference in Dubai, Pavel Durov, the founder of Telegram, expressed his commitment to blockchain technology and unveiled ambitious plans for the messaging application's future. Durov emphasized blockchain's capacity to promote freedom and privacy, highlighting Telegram's affinity for these values. He announced intentions to leverage The Open Network (TON) to expand functionality and introduce innovative features.
In contrast to other major messaging and social media platforms that sell user data to advertisers, Telegram has adopted a different approach to monetization. The company recently unveiled plans to share revenue with content creators through its Ad Network. Durov described this revenue-sharing model as one of the most generous in the history of social media. He announced that 50% of the revenue generated from ads and broadcast channels would be shared with channel owners and content creators who utilize the TON network.
By leveraging a blockchain protocol, Telegram aims to overcome the limitations imposed by Apple and Google on in-app purchases and payment processing. While these restrictions exist, Telegram has enabled app developers and merchants to sell physical goods and services by integrating 40 payment providers, including payment providers like Stripe.
Following Durov's speech, stablecoin operator Tether announced the launch of USDT and Tether Gold (XAUT) stablecoins on the TON network. While Telegram initially developed TON, a legal battle with the United States Securities and Exchange Commission led to the project's handover to a group of open-source developers, resulting in the establishment of the TON Foundation in May 2021.
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