The Gateway event in Dubai was a pivotal moment for The Open Network (TON) community, showcasing its renewed focus, technological innovations, and collaborative spirit. Led by co-founder Jack Booth, the TON Society team provided updates on Telegram’s privacy features, the launch of Tether’s Dirham-pegged stablecoin on the TON blockchain, and the broader purpose of the TON Society.

The Role of TON Society in Community Building

TON Society serves as the backbone for TON’s community engagement and development. Booth, who heads TON Society, highlighted the organization’s commitment to fostering a collaborative environment for developers, builders, and TON enthusiasts. Through networking opportunities and resource provision, TON Society is building a solid foundation for TON’s future as a decentralized, community-driven blockchain.

A New Governance Model with Society DAO

During the event, TON also revealed the Society DAO, a governance model aimed at increasing transparency and community participation in TON’s growth. The Society DAO is expected to empower community members by enabling them to actively participate in decision-making processes, a progressive shift from the traditional centralized governance seen in early blockchain projects.

Telegram’s Renewed Role and Wallet Integration

After stepping back from the TON project in 2020 due to regulatory challenges, Telegram is back in the picture. In 2023, Telegram re-engaged with TON, handing over significant assets and control to the open-source community. Today, TON has gained new momentum, partly thanks to the TON Space wallet, integrated into Telegram’s platform, providing access to crypto features for over 800 million users. This wallet is part of Telegram’s effort to provide a decentralized financial ecosystem through its app, an approach that emphasizes user privacy and data security.

Strong Use Case for Tether’s Dirham-Pegged Stablecoin

A standout announcement at the event was Tether’s plan to launch a Dirham-pegged stablecoin on the TON blockchain. According to Booth, the UAE’s significant remittance outflows to countries like India and the Philippines make the Dirham-based stablecoin a game-changer. He believes this stablecoin can streamline remittances, helping users in Dubai send funds back home seamlessly and affordably.

The Journey from Telegram’s ICO Controversy to TON’s Revival

TON’s history is marked by a turbulent ICO in 2018, in which Telegram raised $1.7 billion before facing regulatory hurdles. Following the SEC’s intervention in 2019, Telegram eventually ceased its involvement in TON. However, the open-source community continued developing TON, which now operates independently of Telegram but benefits from its renewed support and increased exposure.

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Telegram’s Commitment to Privacy Despite Recent Challenges

Telegram has faced scrutiny for its privacy policies, especially after founder Pavel Durov’s recent arrest in France, an incident Booth described as “politically motivated.” While some criticize Telegram for not implementing end-to-end encryption on all chats, Booth emphasized that the platform remains committed to user privacy and actively moderates illegal content. Telegram does not grant authorities direct access to user data, preserving privacy without compromising its security commitments.

Conclusion

TON’s resurgence marks a new era, with innovations like the Society DAO and the Dirham-pegged stablecoin positioning it as a significant player in the crypto landscape. With Telegram’s support and a committed community, TON is poised to redefine blockchain use cases in privacy-focused communication and cross-border finance. For the latest on TON’s initiatives, including updates from The Gateway event, stay tuned to Cryptonews and exclusive coverage by Tanzeel Akhtar.