Cryptocurrency

GRAM & SOUND Wallet: Telegram has the right to block accounts

The Messaging giant Telegram has announced last year its own Blockchain and crypto currency (GRAM). With Telegram Open Network (TON) to the platform with over 350 million active users now on the Blockchain parquet. This Telegram was able to collect last year in a private Fund-raising 1.7 billion USD. Now the Telegram Coin GRAM is on the verge of the Release and Telegram, yesterday published for the first time, its user terms and conditions (GTC).

Telegram published terms and conditions to Telegram Open Network (TON) and Coin GRAM

The Telegram Coin GRAM together with the Facebook Coin Libra probably one of the hottest projects this year. Due to the enormous reach of a lot of hope from the cryptographic Community, is that it improves the General Adoption of the Blockchain and crypto-currencies, and therefore new investors drives in the crypto-market.In contrast to Libra, is Telegram apparently no regulatory problems, and will publish his Telegram Coin GRAM at the end of October. Yesterday the company has published on its official website, the General terms and conditions for the use of the built-in SOUND Wallet. The Wallet of the Messaging giants will be offered as a stand-alone product and fully integrated in the App.According to the document, Telegram has said no direct control over the Telegram Open Network (TON), better:

We have no control over the SOUND Blockchain network, and can therefore ensure that all transaction be validated on the details you provide through the services, to the SOUND of the Blockchain and confirmed.

The Wallet is provided by the London-based Telegram FZ-LLC. This for the Messaging service registered company is also the official publisher of the Telegram App.The best and safest stock market choose now, to buy you in the future, the Telegram Coin GRAM.
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Telegram of questionable points in the terms and conditions of use

The published terms and conditions of use of the app, type in some points, something to worry about. But, let’s start with the positive part. According to the Telegram, neither the user’s personal data, their public and private keys are stored. Officially it is called:

We do not have access to your public or private key, Backup-phrases or passwords or other identifying information about you (“access data”). You are solely responsible for the management and maintenance of the security of your access data. If you lose your login information, we do not have the opportunity to have their credentials re-establish, or assist you in Retrieving your login information, and you may not be able to access your Gram. Please note that we do not collect any personal data about you through your use of the services.

This condition gives the Telegram Open Network (TON) and GRAM a decentralized character, but the rest of the conditions show a somewhat different picture. According to the terms and conditions of Telegram is taking the right out at any time by the users of changing conditions. It should be communicated, but the decision about the conclusion of the hits at last Telegram itself.But it gets even “better”. Telegram has the right to disable the Service, each Account and/or access to the Service at any time or to exit. In addition, the official use only from 18 years. The question here is how are the check want, if no personal data are stored ask, of course. However, a bitter aftertaste of centralization remains. The detailed terms and conditions can be found on the official page of the app.

Telegram is now officially behind SOUND and Coin GRAM

This is the first Time that Telegram confirmed the connection to SOUND public. Neither the company’s CEO, Pavel Durov, nor other representatives of the company have announced that the project ever or commented on.Previously, there was only an indication on the connection of the Telegram to the SOUND of the project. In the run-up was registered with the Security and Exchange Commission (SEC) in the USA, a simple TONE-Agreement for the future Token (JUICE) by Telegram.It is a few weeks, so stay still for the final Release of the app Open Network (TON), and the Telegram Coin GRAM. For those who are interested in the project and in GRAM invest, we will create in the next few days, a buying Guide. Stay Tuned!What do you think of the Telegram Open Network (TON), and the Telegram Coin GRAM? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.