The Open Community’s Pavel Durov dedicated the way forward for messaging software Telegram to blockchain know-how, saying main plans to tokenize options, share advert income with customers and onboard Tether’s stablecoin at Token2049.
Talking in entrance of a packed home in Dubai, Durov sang the praises of blockchain’s means to advertise freedom and privateness earlier than outlining ambition plans to construct out performance on The Open Community (TON).
“The explanation we love blockchain. It’s a know-how of freedom. We care about freedom. Even our brand, the paper airplane symbolizes freedom to maneuver in three dimensions,” Durov mentioned.
The founding father of the app, which reportedly has over 900 million month-to-month customers, mentioned the corporate strives to offer its customers the flexibility to construct instruments, apps and companies on Telegram.
Associated: TON continues to draw Web3 corporations as Telegram Advert Platform goes reside
Durov mentioned Telegram has adopted a special strategy to monetizing person bases than different main messaging and social media platforms, which promote person knowledge to advertisers. Telegram not too long ago introduced plans to share income with content material mills on its platform by its Advert Community.
Durov described the transfer as some of the beneficiant revenue-sharing fashions within the historical past of social media. He additionally mentioned that fifty% of the income Telegram receives from displaying advertisements and broadcast channels could be shared with channel homeowners and content material creators utilizing TON’s community:
“All these transactions, the funds for advertisements, withdrawals of advertisements are powered by blockchain. We’ll use the TON blockchain solely for that.”
Durov estimates that the promoting market operating on blockchain rails may very well be value tens of billions of {dollars} and that customers, from homeowners of enormous group chats to content material creators, will get an honest share of the income.
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The usage of a blockchain protocol will even permit Telegram to mitigate the restricted in-app buy mechanisms enforced by Apple and Google concerning fee processing.
Regardless of this, Telegram has allowed app builders and retailers to promote bodily items and providers by integrating 40 fee suppliers, together with the likes of Stripe.
Durov additionally mentioned that Telegram has already experimented with tokenization, turning into the primary social media platform to tokenize its person namespace. In keeping with the founder, this in-platform market generated $350 million in gross sales and he mentioned that tokenizing different components of its platform is within the pipeline:
“The subsequent step that we’re going to undertake is tokenizing Telegram stickers.”
Durov mentioned that Telegram wants the scalability afforded by TON’s community, which may course of tens to tons of of tens of millions of transactions sooner or later.
Following Durov’s deal with on the convention, stablecoin operator Tether introduced the launch of U.S. dollar-pegged USDT (USDT) token on the TON community. Tether additionally unveiled the launch gold-pegged Tether Gold (XAUT) stablecoin on TON.
TON was initially developed by Telegram, however a subsequent authorized battle with the USA Securities and Alternate Fee noticed the messaging software abandon its improvement efforts in Might 2020.
A small group of open-source builders then took over the venture, which led to the institution of the TON Basis in Might 2021.
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