Monday, May 16

Telegram Creator Criticizes Russia for Trying to Ban Bitcoin

Pavel Durov, creator of Telegram, criticized the actions of the Central Bank of Russia in an attempt to ban mining and use of cryptocurrencies in the country. His speech comes at the same time that his former project, Telegram/The Open Network (TON), starts working with NFTs.

Among its main criticisms is the loss of experts who will move to other countries, as well as the destruction of several sectors that already depend, or will depend, on blockchain technology.

Although Durov was very successful in his projects like the social network VK and Telegram itself, the government ended his dreams by banning the creation of the Telegram Open Network. Despite this, the project continues to be developed independently, under another name.

Pavel Durov Criticizes Russia’s BC Position on Bitcoin

Last Thursday (20), the Central Bank of Russia issued a document that defends the ban on mining and use of cryptocurrencies such as Bitcoin. At the time, the BC stated that cryptocurrency is used by criminals, among other weak arguments.

Without delay, Pavel Durov, creator of Telegram, made a publication on his social networks the day after the publication of the document from the BC of Russia. In the note, Durov claims that this is a setback for the country.

“The proposed ban on cryptocurrencies by the Central Bank of Russia will lead to the departure of IT experts from the country and will destroy various sectors of the high-tech economy. No developed country bans cryptocurrencies. Reason: Such a ban will inevitably slow the development of blockchain technologies in general. These technologies improve the efficiency and security of many human activities, from finance to the arts.”, said Pavel Durov, creator of Telegram

In addition, he praised neighboring countries such as Ukraine and Uzbekistan for adopting progressive laws. Aiming to protect the citizen while leaving the sector open for development.

Finally, he pointed out that a ban will not be able to deter criminals. That is, such an attitude will only affect those who are concerned with improving the world, or their lives, without harming others.

Telegram Blockchain Starts Working with NFT

As for Telegram’s blockchain, the Telegram Open Network (TON), the project is now being independently developed after being banned by the authorities.

With that, the project changed its name to The Open Network. However, this all seems like just a maneuver by Telegram to continue developing it, without having to ask for permission.

According to information from the website ILoveTon, the blockchain will start working with NFT soon. Allowing users to trade these tokens on your platform.

Finally, this confirms two points, the first is that governments cannot bar decentralized projects. The last one is that NFT is on the rise, almost passing Bitcoin in terms of search interest.