Telegram is a well know social media chat platform and is launching its very own blockchain technology and cryptocurrency that will be used to make payments on its Telegram application and more.
Funds raised from the Telegram ICO will be used to meet the development and running costs of the project and the ICO is anticipated to be the largest in the ICO market’s nascent history, with Telegram expected to raise hundreds of millions of Dollars in presales, with the ICO scheduled for March of this year.
Telegram’s blockchain platform is to be called Telegram Open Network (“TON”) that will be integrated into its existing messenger app, with the release of Gram, Telegram’s very own cryptocurrency. The TON platform will allow Telegram users to transfer money via the Telegram platform, away from the prying eyes of governments and central banks.
Expectations are that Telegram will be able to handle one million transactions per second, which is significantly quicker than other platforms in the marketplace, including Bitcoin and Litecoin.
According to the project team, 200 million Grams will be released, 4% of which will be allocated to the development team, 52% to be held in storage to prevent speculative trading, with the remaining 44% to be distributed to investors.
The coins are likely to go fast when considering the fact that Telegram has close to 200 million users globally and in presales alone, the team has targeted to raise $500m, with the market cap of TON estimated to ultimately sit between $3bn and $5bn.
With Telegram’s March ICO anticipated to be possibly the largest ever, Kodak is also jumping on the blockchain tech bandwagon, with Kodak’s ICO scheduled for the end of this month.
Kodak is joining forces with WENN Digital on the project that is expected to provide photographers and agencies with a digital ledger of rights of ownership, ultimately enabling photographers to register their works. KODAKCoin, the currency, will then be used to make payments for the rights and licenses, with photographers and agencies likely to register both old and new works on the ledger.
The platform, to be named KODAKOne, will likely open the photography market, allowing amateur photographers to also showcase and look to sell works via the KODAKOne platform.
While the ICO is not anticipated to raise as much as Telegram ICO, there’s plenty of hype around the KODAKOne ICO, with KODAK’s (“KODK”) share price having surged a whopping 119.36% to $6.80 on the New York Stock Exchange on Tuesday, following the announcement of the 31st January ICO.
The very fact that KODAK’s share price rallied by such a huge amount will likely see the KODAKOne ICO draw a lot of attention in a few weeks. If an established stock on the NYSE can deliver more than a 100% single day rally, one can only imagine how KODAKOne will perform.