Pavel Durov, CEO of Telegram, has announced that the messaging app is moving decisively towards encryption. In particular, his proposal in this area should lead to the launch of a non-custodian wallet and a decentralized cryptocurrency exchange. Durov’s announcement was entrusted to Twitter and does not seem to leave excessive doubts about it.
Among the reasons that have been put forward for this challenging step is the fact that the Blockchain industry has inexorably concentrated in a few hands, subjects who have not hesitated to abuse their position of strength. The reference is clearly aimed at the catastrophic events symbolized in particular by the recent bankruptcy of FTX.
According to Durov, the best way to return to the original spirit of cryptocurrencies is to be found precisely in the decentralization and dissemination of non-custodial wallets, i.e. wallets owned by the users themselves. Solutions that Telegram will offer in the immediate future, like Fragment, a completely decentralized auction platform which is based on the Blockchain of The Open Network (TON). A reference which immediately produced results on the crypto market, where the TON token is currently growing impetuously, also driven by the fact that rumors have been circulating for some time about its possible integration by Telegram. These rumors would be confirmed by another tweet made by Durov yesterday.
A few days ago TON’s investors announced the creation of a $ 126 million fund intended to support projects jeopardized by the collapse of FTX. A fund very similar to the one launched by Binance in response to the new difficulties of a sector that is unable to emerge from a now prolonged crypto winter.
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