Durov Likely to Present His TON Blockchain and GRAM Token at World Economic Forum in Davos
This week, World Economic Forum will be held in Davos. It is an important event that brings businessmen, leaders of different states and outstanding figures together to discuss and figure out the ways of shaping a better world. In 2018, the Forum was attended by Bill Gates, Mark Zuckerberg, Elon Musk, as well as top-managers of Google and Apple, the US president Donald Trump, the Chancellor of Germany Angela Merkel, and Prime Minister of the United Kingdom Theresa May.
This year, the main theme on the agenda is devoted to globalization and interaction during the fourth industrial revolution.
Pavel Durov, the creator of a popular messenger Telegram, also participated in the Forum earlier, but he did not present any projects or developments to the wide public. This year, everything may change, as some media outlets suggest Durov may use the platform of the World Economic Forum to present his blockchain-based project Telegram Open Network (TON) and digital currency Gram to experts and businessmen.
TON to Host a New Generation of Cryptos
The Telegram Open Network is intended to be a competitor to Ethereum for the launch and execution of smart contracts and decentralized applications. TON is based on cryptographically protected distributed registries. At the core is a scalable and flexible blockchain architecture that consists of a master chain and up to 292 accompanying blockchains.
Through the token sale of its native crypto, called Grams, the firm raised $1.7 billion. Investors were slated to get their tokens in December 2018, but the company did not expect to be listed on a major exchange until 2019.
In November 2018, TON platform was reportedly 70% ready. As we reported, all the components needed for the execution of its smart contracts were “fully implemented and internally tested”, but some modifications were expected to take place.
According to anonymous sources familiar with the matter, the test version of the platform is already available for some investors, and official launch of TON platform is planned for the second half of this year.
About the World Economic Forum
The World Economic Forum is the International Organization for Public-Private Cooperation. It was established in 1971 as a not-for-profit foundation and is based in Geneva, Switzerland. The Forum not tied to any special interests.
Engaging the foremost political, business and other leaders of society to shape global, regional and industry agendas, the Forum demonstrates entrepreneurship in the global public interest while upholding the highest standards of governance.
The activities are shaped by a unique institutional culture founded on the stakeholder theory, according to which an organization is accountable to all parts of society. The institution carefully blends and balances the best of many kinds of organizations, from both the public and private sectors, international organizations and academic institutions.
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