Telegram founder issues open letter to end blockchain project TON due to regulatory issues

BlockBeats news, Telegram  Founder Pavel Durov released an open letter today announcing the official end of TON, the blockchain project he supported and developed. According to his blog, it can be seen that the final cause of the project's failure is still the regulatory problem in the United States. Earlier, pulse reported that a us court had not allowed TON to sell its Gram in the us and elsewhere around the world.

Finally, Pavel Durov reminds users that the project is officially over and asks users not to trust any website that USES his name, Telegram brand or the abbreviation "TON" to promote the project.

The following is the full text of Telegram founder Pavel Durov's blog, entitled "TON  what it is and why it's over."

Over the last two and a half years, some of our best engineers have been working on the next generation of the blockchain platform, called TON, and we plan to name it Gram. TON aims to share the decentralized principles pioneered by bitcoin and ethereum, but far outperforms them in terms of speed and scalability.

We are very proud of the results - the technology we have created allows an open, free, decentralized exchange of values and ideas. Integrating with Telegram, TON has the potential to revolutionize the way people store and transfer money and information.

Unfortunately, the us courts have prevented this from happening. Why is that? Imagine a group of men putting their money together, building a gold mine, and dividing the gold mined equally. Then the judge came and said to the builder of the mine, "many people invest in gold because they want to make money. They don't want to keep the gold for themselves. They want to sell it to others.

If you think it doesn't make sense to you, you're not alone. But it does happen to TON, its investors, and Gram. A judge used that argument to rule that people should not be allowed to buy and sell Gram the way they buy and sell bitcoin.

Perhaps even more absurdly, the U.S. court declared that Gram could not be distributed not only in the United States, but globally. Why is that? Because, it says, a U.S. citizen might find some way to access a platform where Gram is sold. So, in order to prevent this from happening, Gram should not be allowed to be distributed anywhere in the world -- even though the rest of the world is friendly to TON.

The court's decision means that other countries do not have the sovereignty to decide what is good and bad for their citizens. If the United States suddenly decided to ban coffee and demand the closure of coffee shops in Italy, because some americans might go to coffee shops in Italy to drink coffee, then we don't expect anyone to agree with such a decision.

However, despite this, we made the difficult decision not to proceed with TON.

Unfortunately, American judges are right about one thing: we, people outside the United States, can vote for our President and our congress, but we still depend on the United States (and, fortunately, the freedom to drink coffee) for finance and technology. The us could use its control of the dollar and the global financial system to close any bank or account in the world. It can use the controls on apple and Google to remove apps from the app store and Google playback. So, yes, other countries don't have full sovereignty over their territory. Unfortunately, we -- 96 percent of the world's population lives elsewhere -- rely on policy makers chosen by 4 percent of americans.

That may change in the future. But today, we're stuck in a vicious circle: you can't bring more balance to an overconcentrated world, because it's so concentrated. But we did try. We will leave it to the next generation of entrepreneurs and developers to pick up the flag and learn from our mistakes.

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My purpose in writing this article is to officially announce the end of the active cooperation between Telegram and TON. You may see -- or have seen -- websites promoting their projects using my name (Pavel Durov), the Telegram brand, or the abbreviation "TON." Don't trust them with your money or data. None of our current or former team members were involved in these projects. While networks based on the technology we built for TON may emerge, we will not be associated with them and are unlikely to support them in any way. So be careful not to let anyone mislead you.

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Finally, I want to wish good luck to all those around the world who strive for decentralization, balance and equality. You're fighting the right battle. This battle is probably the most important battle of our generation. We hope you will succeed where we failed.

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