Unconfirmed: Telegram TON Network to Launch by October 2019 or Token Contracts Are Void
Purchase agreements for messenger service Telegram’s Gram tokens will be terminated if the Telegram Open Network (TON) does not launch by October 31, 2019. An apparent purchase agreement with the said terms was obtained by Cointelegraph on Feb. 21.
The agreement details the legal niceties of Gram token purchases, outlining regulations for different jurisdictions in regard to the distribution of the tokens. Notably, it states that, should network not be released by October 31, 2019, the contract will be considered null and void.
While the document provides the name of the founder of the encrypted messenger Telegram, Pavel Durov, it is not yet been signed or dated. The document also lists the address for Harneys, a lawyer's office in the British Virgin Islands, where Telegram is also registered.
According to the document, the company intends to create and release a new digital currency called “Grams” following the development and launch of a new blockchain platform, the TON Network.
Sources familiar with the matter recently told Cointelegraph that TON could launch as early as March 2019. Cointelegraph’s source emphasized that Durov was reluctant to confirm a specific date for TON's release and that the March estimate remains subject to change.
According Russian media outlet The Bell, investors have been told that TON is 90 percent ready, but that delays are possible because of the “innovative nature of the development.” As Cointelegraph previously reported, Pavel and Nikolai Durov filed a “Notice of Exempt Offering of Securities” with the U.S. Securities and Exchange Commission (SEC) on Feb. 13, 2018, reporting $850 million raised from 81 investors in the first round of their initial coin offering (ICO) for “the development of the TON Blockchain, the development and maintenance of Telegram Messenger.” Later in March 2018, the Durov brothers revealed that they raised $850 million in the second round of their ICO from 94 investors. In October 2018, it was reported that Telegram would release a test version of theTON platform “this autumn.”
4 923 minutes ago
1 324 minutes ago
New Platform Converts Crypto to Fiat Without Know Your Customer Requirements
Cryptocurrency wallet MyEtherWallet (MEW) in collaboration with crypto finance firm Bity are releasing a platform to convert cryptocurrency to fiat without Know Your Customer (KYC) requirements. MEW announced the news in a blog post published on Feb. 20.
Per the announcement, users of the MEW V5 wallet are now able to exchange up to 5,000 Swiss Francs ($4,995) worth Bitcoin (BTC) and Ethereum (ETH) to euros and Swiss francs without going through KYC requirements inside the wallet. Users can purportedly make the exchange from any part of the world.
KYC procedure enable organizations to verify the identity of their customers before or during dealing with them. Businesses can assess whether their clients are involved in illegal activities like money laundering or corruption.
To use so called “Exit-to-Fiat” option, customers have to choose the target digital and fiat currencies in the wallet dashboard. Users will further be asked to provide some personal data, including their phone number, banking details, official name of their bankaccount, and the billing address needed for compliance purposes.
Enhanced privacy and anonymity of cryptocurrencies have always been linkedby the governments and regulators to illicit activities and the possibility of money laundering. Last month, the Cyberspace Administration of China (CAC) introduced new regulations for blockchain firms that are operating in the country.
The CAC guidelines require blockchain startups to allow authorities access to stored data, and to introduce registry procedures that would require ID card or mobile numbers from its users. Moreover, they will be obliged to oversee content and censor information that is prohibited under current Chinese law.
In April 2018, Amazon Technologies, Inc. received a patent for a streaming data marketplace that would permit the combining of multiple data sources, thereby enabling the real-time tracking of cryptocurrency transactions and the users involved. This would essentially lead to the de-anonymization of transactions involving Bitcoin, Ethereum or any other non-privacy cryptocurrency.
Вся твоя жизнь на 90% зависит от тебя самого и лишь на 10% - от обстоятельств, которые на 99% зависят от тебя.
Your whole life is 90% dependent on you and only 10% on circumstances that are 99% dependent on you.
Нравится контент? Отмечай друзей и подписывайся 😉
like content? Tag friends and follow🔊