Expert: Durov’s TON project may spur up interest to crypto industry

MOSCOW, Jan 23 (PRIME) -- Blockchain platform Telegram Open Network (TON) with the own cryptocurrency Gram of messenger Telegram’s founder Pavel Durov can spur new interest to the cryptocurrency market, but the project may be restricted by the global regulators, several experts told PRIME on Wednesday.

“I find the cryptocurrency a logical continuation of Telegram’s ecosystem. I believe it has a chance to gain much popularity because of wide coverage by the messenger of the world and convenience of use,” said Mansur Guseinov, director for investment at Cryptolife.World, a global network of professional investors in digital assets.

“The launch of TON could trigger a new interest to cryptocurrencies and growth of their quotes. But since many countries do not accept or ban cryptocurrencies, Telegram may encounter new restrictions on the part of the regulators.”

Media earlier reported that Durov could unveil TON with its own cryptocurrency in February and launch it in March. The businessman could meet with major investors, who injected U.S. $1.7 billion into the initiative, within a month. TON was reported to be ready by 90%.

Vice President of the Russian Association of Blockchain and Cryptocurrency Valery Petrov said TON could be used in the future as a financial system, a trading floor, or a system of information exchange.

“Certainly, such a potential could not help but worry the governments. Regardless of intentions of the network creators, it could become a serious rival to the existing financial system of mutual settlements and trading operations,” he said.

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