Telegram Declares Blockchain And Messaging Platform Are Not Integrated
Telegram, an encrypted messaging service, has declared that it’s not looking to combine its new cryptocurrency wallet with its messaging platform.
In a statement, Telegram executives claimed:
At the time of the awaited launch of the TON blockchain, Telegram’s TON Wallet application is supposed to be made available only on a stand-alone basis. It will not be combined with the Telegram Messenger service.
The big mystery, though, is, “Will TON indeed get off the ground?” As everyone knows, the company is currently held in a mega-lawsuit led on by the Securities and Exchange Commission (SEC), which states that it declined to accurately register its brand-new “gram” token offering with the agency.
While more than $1 billion in gram units were allegedly sold through the initial coin offering (ICO), none of the sold units can be distributed to their rightful purchasers until after Telegram makes its first court appearance in February of this year.
Also, Telegram has been at the center of several debates over the past year. Recently, it was stated that the famous hacking group Lazarus – based in North Korea – was using Telegram’s group chat services to withdraw cryptocurrency from innocent users. Overall, it’s considered that North Korea has likely stolen over half-a-billion in digital currency funds and has even used these funds to boost its ongoing nuclear program.
The Telegram was also the host of a bug found last summer that let many group chat members’ data and phone numbers to be leaked. The Chinese government was using this bug to find out who was probably involved in the Hong Kong protests, as various members were using Telegram to discuss secret information such as meeting points.
Consequently, when Telegram states that its wallet and its messaging service are going to be two separate entities, does anyone even bother? Well, if they do, maybe the separation is a good idea, in the long run, contemplating what a lack of security the platform seems to flourish notwithstanding being a purportedly “encrypted” service. It is critical enough that Telegram is flowing personal data such as telephone numbers; would it ooze crypto addresses next?
In October of last year, Telegram mentioned that both entities might be a single product, though presently, it seems to be backing away from this claim. At press time, the lawsuit started by the SEC appears to be taking up much of the company’s time; however, to be honest, Telegram is not making things simple for itself.
For instance, Telegram has frequently refused to give in to the SEC’s demands for particular financial documents. While it consistently refutes claims that it did anything wrong, it will not offer any proof to the opposing party to advise otherwise.