Yesterday, May 12, Pavel Durov in the official telegram channel wrote about the cessation of work on the creation and promotion of his TON project. Paul added that he was not going to support alternatives.
According to the entrepreneur, Telegram Open Network has been developed for 30 months and should have significantly exceeded Bitcoin and Ethereum in terms of speed, scalability, and decentralization. Durov is sure that the interaction of the TON network and the Telegram messenger would make a real revolution in the world of financial transactions.
The founder of Telegram compared TON with a gold mining company, and Gram with gold. Pavel explained that investors did not invest in his “gold mining” company, but only bought Gram in order to sell it at a higher price later. This was the reason for the injunction on the development of the project.
“This court decision implies that other countries don’t have the sovereignty to decide what is good and what is bad for their own citizens. If the US suddenly decided to ban coffee and demanded coffee shops in Italy be closed because some Americans might go there – we doubt anyone would agree.”
Durov said that the whole world depends on US decisions, especially when it comes to technology and finance.
“The US can use its control over the dollar and the global financial system to shut down any bank or bank account in the world. It can use its control over Apple and Google to remove apps from the App Store and Google Play. So yes, it is true that other countries do not have full sovereignty over what to allow on their territory. Unfortunately, we – the 96% of the world’s population living elsewhere – are dependent on decision makers elected by the 4% living in the US.”
Pavel warned people against participating in projects of the same name TON since neither he nor his team had anything to do with them.
“I want to conclude this post by wishing luck to all those striving for decentralization, balance, and equality in the world. You are fighting the right battle. This battle may well be the most important battle of our generation. We hope that you succeed where we have failed.” – TON idea author Pavel Durov completed his appeal.