The company behind message app Telegram has informed investors to release the first batches of crypto coins within two months, according to The New York Times.
The plans for the crypto coin Gram became known in 2018 when Telegram raised money by selling crytpo coins to investors before they were realized. The company managed to raise 1.7 billion dollars, about 1.5 million euros.
Telegram has promised in contracts to deliver the Grams before October 31, 2019. If that does not work, it must pay back the entire investment. From there Telegram would now like to deliver the Grams within two months.
Telegram would also like to make digital wallets, in which the crypto coins can be 'stored', available for two to three hundred users worldwide.
Just like the Bitcoin, the Gram will not be linked to a regular currency, so the value of a currency depends on supply and demand. After the coins are released, payment traffic is controlled by a network of computers, which means that Telegram has no control over how and where the Grams are stored and used.