Telegram Public ICO Shutdown, App Banned in Russia and Iran
Telegram app blocked spreads frenzy across Russia and Iran, public ICO pulled out after private fundraising
Image source: Wikimedia Commons
Telegram, cloud-based instant messaging service is under fire in the news lately with the most recent announcement of its public ICO shutdown. I read the news on The Independent - Anthony Cuthbertson, which reported the Initial Coin Offering (ICO) for the Telegram Open Network (TON) shuts down before its public sale started. There is currently no media release or comments from Telegram at the point of writing.
The U.S. Securities and Exchange Commission and other regulators have warned that tokens sold in ICOs are really securities in disguise and have already cracked down on a handful of projects.
Source: Bloomberg - C.Russo & O.Kharif
ICOs are coming under the heavy scrutiny of the U.S. Securities and Exchange Commission (SEC) as being touted as get-rich-schemes for investors as they pull out after the token prices increase. Having a large success of fundraising from private investors, Telegram really has no need for public fundraising. The main article on Wall Street Journal suggests that Telegram's public fundraising may have shut down to avoid ICO probes by SEC when soliciting money from the public.
Image source: Wikimedia Commons
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Telegram's refusal to give in to governmental pressure
What has also happened to Telegram is the blocking of the messaging app in Russia and Iran, sparks outcry by the public. Telegram's privacy policies to keep their user's messages encrypted have triggered government requests for accusations of security evasion. NY Times - Palko Karsz wrote a highly politically skewed article, quickly slamming Telegram as a platform for "terrorism plots and to disseminate propaganda". Since Telegram is not owned by the United States, they could evade state intelligence easily.
As to whether to support Telegram or not, it comes down to your personal decision. Privacy and data encryption are a few of today's issues we face repeatedly. Much like the Facebook saga last month which seem to have become hush-hush after several futile efforts to 'interrogate' its CEO. We wonder how much of importance is given to data protection exactly in a state where nothing could evade surveillance. Is privacy more important when it comes to national security? Or is the nation secure when privacy is respected?
-tysler
Image source: Flickr - mrkrndvs
That's a big blow to Telegram, especially in a world where we have many social networks, among them is steemit, which is flying upright to the moon!
The issue about data protection is a big one because in time people still find ways to invade the security of others, I hope Social Networks will work hard to improve.
Thanks for the news, great work.
Thanks, I think instant messaging can be further developed along the lines of Telegram for better privacy issues. Current;y Whatsapp already have encryption, but who knows how easy it could be decrypted
You just made a good point. Privacy is a big issue in today's world. The solution is the problem - Technology
Despite our filtering, we still do not trust the national messenger and use the telegram in iran
I think privacy is really an issue that needs to be resolved. Government surveillance can be done in so many ways I don't see how they should block Telegram because of one or two individuals
Thank you for the posting with great contents! I hope Telegram resolves this matter with U.S. SEC soon.
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