For close to a year, details of Gram coins minting has been a secret with developers and the Telegram community remaining silent. However, with its launch scheduled for October 31st, a leaked document has surfaced giving stakeholders and the crypto community alike a snippet into Gram.
Per contents of the leaked document, the Russian brothers behind Telegram are creating a coin that is easy to use compared to other digital currencies already in circulation. Furthermore, the document indicates Telegram is racing against the clock to launch Gram coins before Libra minting starts. Reports online indicate Gram units are set to go live in the next two months.
Telegram Aims to Front Gram as MasterCard and Visa Rival
By making Gram coins a standard cryptocurrency that is easily accessible to all and fits in the lives of the ordinary person, Telegram will positively influence the lives of many. Furthermore, with Telegram being a secure and fast payment platform, Gram coins will be favored against payment platforms such as MasterCard and Visa. With its platform coming with a high encryption algorithm, all payments transactions are safe and secure. Telegrams’ encryption is so strong that even the Russian government cannot access its systems. The latter led to the government blocking the platform. However, this hasn’t deterred its founders from getting the support it needs.
The founders’ belief in their coin led to them raising $1.7 billion through two Initial Coin Offering rounds. From only 200 private investors, Telegram got the above amount. With its success in the ICO the founders saw it fit not to go ahead with a public fundraiser. The latter decision locked out many other interested parties since the ICO was on an invite basis only. However, those who missed out will have an opportunity to be part of the Gram community once the coin is launched.
As Telegram nears the launch of Gram, once launched the coins will fast track crypto adopting. Just like Facebook, Telegram is counting on its numbers to get its currency off the ground once it hits the market. Details online indicate Telegram has a 250 million user base. For Telegram to ensure its development plans remain under wraps, investors are bound by a confidentiality clause. However, some have leaked info of the coin’s development anonymously.