Pavel Durov Plans One of the Largest ICOs Ever

According to TechCrunch, founder of Telegram wants to launch a blockchain platform and a cryptocurrency. The project aims to raise as much as half a billion dollars only at the pre sale.

TechCrunch reports that Pavel Durov plans to launch a “third generation” blockchain platform based on the messenger. This solution will allow to make payments in Telegram. The platform Telegram Open Network will use its own cryptocurrency Gram.

Telegram plans to attract around $500 million from investment funds and large enterprises. The total cost of tokens can reach $3 – $5 billion.

According to TechCrunch, Telegram developers aim to finance the creation of messenger’s own blockchain platform and cryptocurrency that will allow not to depend on governments and banks.

This fact is rather important for Telegram as the company is struggling for a free communication without any control of state authorities.

It is also said that the ICO will accept only fiat money with a fixed price, for example USD. Cryptocurrency will not be accepted. There will be only 44% Gram available for sale and Telegram will keep the controlling share of its digital currency.

There have been rumors about Pavel Durov launching the ICO since the end of 2017.