As Facebook is facing serious troubles with its big cryptocurrency plans, another social media network, Telegram, is launching its own coin I,e, The Gram.
Telegram has a much bigger plan than just launching a coin, they are also planning to launch their own platform as well as a native cryptocurrency which can be used for payments within their chat app.
Telegram has told its investors that they will launch the first batch of the first batches of its coin, the Gram, within the next two months. Telegram is unique in a way that it is a well-established and successful pre-existing business. This gives it leverage over other startups.
Converting to an in-house cryptocurrency would offer Telegram exceptional levels of independence from outside regulators. This feature would potentially allow users to pay fees in a better way for international payments and transactions. It would also allow users to move potentially large amounts of money privately and via encryption with great security.
Telegram also plans to launch its own Gram Digital Wallets that would be available to the 200 million to 300 million global users of Telegram's messaging application.