Jeff Fawkes is a seasoned investment professional and a crypto analyst. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.
Even if the regulators restrict the official Telegram TON team to coordinate their project, it can be launched as a ‘fork’ by anyone else. The community has already launched an experimental testnet that works well with the Telegram’s code. What will they do next?
One way or another, but Pavel and Nikolai Durov plan to launch the Telegram Network blockchain. How can they do it considering the current war with the American regulators? Easy – just handle the launch to the community, as intended in any truly decentralized system.
Bitcoin Wasn’t about Centralized Governance
When Satoshi Nakamoto found the way to publish his work, he didn’t make any ICO. And he didn’t want total control over everything. A pleasure to understand that the industry’s ‘big guys’ finally come to this definition regarding the launch of large-scale blockchains. The TON blockchain coders have united together to launch TON even in case the American government will ban the platform under Durov brother’s jurisdiction.
The community of investors and coders have formed a TON Community Foundation as the new venture dedicated to TON’s launch. It will coordinate the key investors, as well as enthusiasts, in the direction of launching the blockchain without Durovs or Telegram itself.
Telegram Developers Consider Taking Off after Blockchain Is Ready
Judge Kevin P. Castel from the New York District Court is not the investor in Telegram Open Network and is not a fan of decentralized systems. Because on Tuesday, Honorable Judge has ruled out that Telegram’s tokens are somehow securities.
This is a stance that the SEC takes in a harsh battle against Telegram messenger’s plans to enter the monetary game. Despite Telegram lawyers claim they will write the appeal to the motion, the chances of Durov brothers to sustain the control over the TON launch are sickening.
In a chat with Coindesk’s Global Macro, Policy & Regulation reporter Anna Baydakova, Skuratov claims that the necessary code for the TON launch is ready. Per Fedor Skuratov from the TON LABS:
“We consider it seriously.”
Also, the blockchain infrastructure seems ready for work. The only thing it needs is a couple of starting transactions. Also, at least 13 computers to run the validation nodes. But the key factor is the support from enthusiasts:
“Strictly speaking, no additional measures are required to launch TON by the community, except for a consensus within the community. But in order to get recognized, we will need to come to an agreement with investors (at least, with a majority of them).”
The regulators have somewhat limited power when it comes to community support for open source code. The issue with it is that anybody can take it, make own app and launch it on the network. In TON’s case the Telegram team of coders, investors, took care of the code. As it’s Open Source, the network’s launch now seems like only the matter of community will.