Skeptic’s lens: The story of Telegram’s blockchain network

Quick Take

  • Telegram doesn’t have a business model because it believes “in fast and secure messaging that is also 100% free”
  • The company sold SAFTs in a Reg D token offering to accredited investors raising a total of $1.7 billion from fewer than 200 private investors
  • Telegram said that it would refund investors’ money if its blockchain didn’t launch by October 2019
  • Pre-ordering tokens in an unofficial sale prior to TON even launching does not sound like a good idea

Telegram was founded in 2013 by the Durov brothers, founders of the Russian Facebook competitor VK, with the premise of protecting users from government mass surveillance. 

Even though the company has been criticized for heavy moderation of public channels that break its Terms of Service, the company has very strict policies when it comes to private communication.