Telegram founder Pavel Durov shared some bad news about his company’s blockchain project.
In a message posted on his Telegram channel, Durov announced that Telegram’s involvement with the TON blockchain program is officially over.
I am writing this post to officially announce that Telegram’s active involvement with TON is over. You may see – or may have already seen – sites using my name or the Telegram brand or the “TON” abbreviation to promote their projects. Don’t trust them with your money or data. No present or past member of our team is involved with any of these projects. While networks based on the technology we built for TON may appear, we won’t have any affiliation with them and are unlikely to ever support them in any way.
Durov blamed the U.S. Courts for stopping TON from happening, saying that the judge had absolutely no business telling investors outside the U.S. what they can and cannot buy and that the judge had a completely nonsensical approach to rule against Grams.
…a US court stopped TON from happening. How? Imagine that several people put their money together to build a gold mine – and to later split the gold that comes out of it. Then a judge comes and tells the mine builders: “Many people invested in the gold mine because they were looking for profits. And they didn’t want that gold for themselves, they wanted to sell it to other people. Because of this, you are not allowed to give them the gold.”
If this doesn’t make sense to you, you are not alone – but this is exactly what happened with TON (the mine), its investors, and Grams (the gold). A judge used this reasoning to rule that people should not be allowed to buy or sell Grams like they can buy or sell Bitcoins.
He went on to allude that while the globe may still be beholden to decision makers in the U.S., things may change in the future. He hopes that later entrepreneurs and developers would pick up where they left off and try to create balance in what he calls a centralized world.
I want to conclude this post by wishing luck to all those striving for decentralization, balance and equality in the world. You are fighting the right battle. This battle may well be the most important battle of our generation. We hope that you succeed where we have failed.
Photo: TechCrunch
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