This article comes fromThe Block, by Michael McSweeney
Odaily Translator |
Odaily Translator |
Telegram founder Pavel Durov announced that TON, the troubled blockchain project that Telegram has been developing for the past 2.5 years, has come to an end.Durov on Tuesday at hisInformation published by the official Telegram channelZhong said the company's entrenched battle with U.S. regulators was to blame. last fall,SEC Sues Telegram
, trying to prevent it from distributing the TON token Gram to U.S. investors. As previously reported, the company raised as much as $1.7 billion through the SAFT.
As Durov pointed out, “Unfortunately, a U.S. court prevented TON from happening. How? Imagine a couple of people pooling their money together to build a And then a judge came and said, 'These people are investing in gold mines because they're looking for profit. They don't want to get the gold themselves, they want to sell it to other people. Because of that, they can't get the gold.'”
He continued, "If this seems illogical to you, you're not alone - but that's exactly what happened to TON (mine) and Gram (gold). A judge used this reasoning Ruled that people should not be allowed to buy and sell Grams the same way they buy and sell Bitcoin. Perhaps more paradoxically, the U.S. court declared that Grams could be distributed neither in the U.S. nor globally. Why? Because it stated that U.S. citizens may trade in TON Find some way to access it after the platform launches. So, to prevent this from happening, Grams should not be allowed to be distributed anywhere in the world — even though the rest of the planet seems to be happy with TON.”
He said, "This court decision means that other countries do not have the sovereignty to decide what is good or bad for their own citizens. If the United States suddenly decides to ban coffee and asks Italian coffee shops to be closed, because some Americans may come There — we doubt anyone would agree. However, despite this, we have made the difficult decision not to proceed with the TON project.”
Additionally, Durov has made serious allegations against the U.S. government and its global influence in the financial sector.
"Sadly, the American judges were right about one thing: We, people outside the United States, can vote for our president and elect our Congress; but when it comes to finance and technology (thankfully not coffee), we still Dependent on the US. The US can use its control over the dollar and the global financial system to close any bank or bank account in the world. It can use its control over Apple and Google to remove apps from the App Store and Google Play. So yes, Other countries don’t have full sovereignty over what is allowed on their soil. Unfortunately, we — 96 percent of the world’s population lives elsewhere — depend on decision makers elected by 4 percent of the population living in the United States.”
Durov also warned against projects using TON marketing or trying to bundle themselves with Telegram.
"I am writing this to officially announce the end of Telegram's active involvement with TON. You may have seen - or may have seen - some sites using my name, the Telegram brand, or the initials 'TON' to promote them Do not entrust them with your money or data. No current or former members of our team are involved in these projects. While networks based on the technology the Telegram team built for TON may emerge, we will not have any relationship with them. contact, and it is impossible to support them in any way. So be careful not to let anyone mislead you."
