Durov announced the closure of the blockchain project TON

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blockchain project TON

Developing blockchain platform TON and cryptocurrency Gram terminated.

This was stated by the founder of Telegram, Pavel Durov. According to him, the reason was the US court decision, which forbade to pass the tokens to the original buyers. The entrepreneur argues that the decision of us court extends to the whole world, thereby denying other States the right to decide “what is good and what is bad for their citizens.” Durov emphasized that Washington controls the world financial system, so the rest of the world depends on the United States in this area.
The founder of Telegram, Pavel Durov announced the closure of the blockchain-the draft Telegram Open Network (TON) c own cryptocurrency Gram, which worked the last two and a half years. This decision was taken due to the fact that the court had found Gram security and forbade its transfer to the initial purchasers.
“Imagine that a few people have combined their funds to build a gold mine, and then divide the extracted gold there. And then comes the judge and says: “a lot of people invested in a gold mine, because they wanted to benefit. They wanted to keep the gold, they wanted to sell it to other people. And therefore you are not allowed to give them gold,” — explained Durov the situation.

Moreover, according to the founder of Telegram, the U.S. court halts bitcoin not only in the U.S. but also worldwide, because otherwise, citizens of the United States can find a way to access it. According to Durov, the decision means that other States do not have the right to decide what is good and what is bad for their citizens.
“If the US decided to ban coffee and close the coffee shops in Italy, because there may be some Americans, I doubt that anyone would agree. But despite this, we decided not to continue development TON. Unfortunately, the U.S. Supreme court is right about one thing: although we, people outside the US can vote for their presidents, and elect parliaments, we are still dependent on States Finance and technology (fortunately, not coffee)”, — he wrote in his Telegram channel.
Durov emphasized that the United States control over the dollar, the global financial system, on tech giants Apple and Google, resulting in unable to block any Bank account or to remove unwanted apps from the App Store and Google Play.
“Unfortunately, we — 96% of the population of the world, dependent on the decisions of those who chose 4% of people living in the United States,” he said.
Thus, according to him, in the future, this situation may change, but currently, the world is in a vicious circle: “can’t be a too centralized world more balanced just due to the fact that it is so centralized”.

The founder of Telegram also urged people to be vigilant and not to invest the money or transfer the personal data to those who use his name, brand or Telegram TON to promote any initiatives.

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“Active participation in the development of Telegram TON over… None of the current or past team members are involved in any of these projects. Although network technology is created to TON, appear, we won’t have to do with them and hardly will support them,” — said Durov.
The first information about the blockchain platform TON appeared at the beginning of 2018. Telegram has reported raising about $1.7 billion According to the original plans, the project had to be run until 31 October 2019. However, shortly before the launch of the Commission on securities and stock exchanges of the USA has filed a lawsuit against the Telegram companies Group Inc. and TON Issuer Inc.
In the course of litigation cryptocurrency, Gram was recognized as a valuable paper and its transfer to the buyers was prohibited. Against this background, the launch of blockchain platforms was postponed indefinitely. While the media reported that Durov offered investors a TON to return 72% of the investment in connection with the postponement of the project or to 110% of the investment at the end of April 2021.
Note that the ex-Durov brothers to work on the social network Vkontakte and Telegram messenger Anton Rosenberg in an interview with RT in January 2018 pointed out that investing in cryptocurrencies, including Gram, is a risky business, since the assets with high volatility. Speaking of blockchain platform TON he also stressed that “none of the States do want to see a competitor to its own Central Bank”.
Meanwhile, Pavel Durov has previously criticized the United States. In particular, he cited seven reasons which, in his opinion, entrepreneurs in the field of IT is not necessary to move to Silicon Valley: a rigid police state, lack of access to health care, limited cultural life, a mediocre secondary education, high taxes, high cost of development and weak market Outlook in the XXI century.
According to him, the United States of America “is not the best place neither for life nor for the conduct of IT business.”
“The rights and freedoms of a person are much better protected in the countries of Northern and Central Europe, and economic growth in the XXI century is focused in Asia. America is still able to lure some already-held entrepreneurs and developers from around the world with cheap investor money, but moving to the United States today is akin to buying an asset at the peak of value, ”the founder of Telegram stated.