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The Bad Crypto Podcast
Ep 753 - The Ton Society Builds for a Billion Users with Jack Booth
Nov 27, 2024
Jack Booth, co-founder of the TON Society, discusses the ambitious origins of the Telegram Open Network and how it transitioned to a community-led initiative. He shares insights on simplifying crypto onboarding through Telegram’s wallet integration and the innovative features of the TON network that promote digital ownership. The conversation dives into the significance of user engagement in navigating blockchain innovations, and wraps up with a light-hearted look at today's chaotic cryptocurrency landscape.
49:55
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Quick takeaways
- Telegram's transition of the TON project to community governance highlights the importance of decentralization in blockchain development.
- The Ton Society's initiatives aim to seamlessly onboard users into the Web 3.0 space, emphasizing user-friendly applications and engagement strategies.
Deep dives
Telegram's Vision for Blockchain
In 2018, Telegram introduced plans for its blockchain platform, the Telegram Open Network (TON), intending to raise around $2 billion through an ICO. Despite successfully securing over $1.7 billion from private investors, the ICO was halted due to regulatory challenges from the SEC, which sued Telegram regarding their fundraising approach. In a significant shift, Telegram opted to hand over the project to the community, fostering a sense of decentralization and open-source development. Today, TON is continuing to grow and evolve with the community at the helm, while Telegram itself approaches nearly 1 billion users.
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