cross pond high tech
159.9K views | +0 today
Follow
cross pond high tech
Technology

cross pond high tech

light views on high tech in both Europe and US
Curated by Philippe J DEWOST
Your new post is loading...
Your new post is loading...
Rescooped by Philippe J DEWOST from Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus
Scoop.it!

Telegram abandons $1.7 billion crypto project

Telegram abandons $1.7 billion crypto project | cross pond high tech | Scoop.it
From decrypt.co - May 13, 2020 11:59 AM

In brief

  • Telegram has abandoned TON
  • The SEC delayed the launch of TON and Telegram had to give investors their money back.
  • It won’t support third-party efforts.
 

Telegram, the operator of the 400 million-strong messenger app, today announced that it has given up on its upcoming blockchain network, the Telegram Open Network, following a lengthy, protracted dispute with the SEC.

"Today is a sad day for us here at Telegram. We are announcing the discontinuation of our blockchain project.” wrote Pavel Durov, co-founder of Telegram, in a blog post. “Telegram’s active involvement with TON is over.”

 

Since October, the SEC has alleged that Telegram’s $1.7 billion ICO in 2018 for the cryptocurrency that powers the network, Grams, constituted an illegal securities offering.

Though Telegram denied the charges, the SEC secured one temporary injunction after another, delaying the launch of the network. Due to a clause in the purchasing agreement for Grams, Telegram promised it would return the tokens if the network didn’t launch by April 30. 

The network didn’t launch, so Telegram offered to return investors their money.

The project folded less than two weeks later. 

Philippe J DEWOST's insight:

Worlds Biggest ICO has just been canceled, with $1,7 Bn needing to be (partially) refunded

more...
Philippe J DEWOST's curator insight, May 13, 2020 11:57 AM

The biggest ICO worldwide will finally not happen
Sign up to comment
Scooped by Philippe J DEWOST
Scoop.it!

Viewing Where the Internet Goes - A very interesting NY Times story featuring @vgcerf

Viewing Where the Internet Goes - A very interesting NY Times story featuring @vgcerf | cross pond high tech | Scoop.it
From mobile.nytimes.com - January 1, 2014 10:41 AM

while the Internet’s global capability to connect anyone with anything has affected every nook and cranny of modern life — with politics, education, espionage, war, civil liberties, entertainment, sex, science, finance and manufacturing all transformed — its growth increasingly presents paradoxes.

 

It was, for example, the Internet’s global reach that made classified documents available to Mr. Snowden — and made it so easy for him to distribute them to news organizations.

Philippe J DEWOST's insight:

Interesting quote from Vint Cerf : "

Everything has expanded by a factor of a million since we turned it on in 1973. The number of machines on the network, the speeds of the network, the kind of memory capacity that’s available, it’s all 10 to the sixth.

I would say that there aren’t too many systems that have been designed that can handle a millionfold scaling without completely collapsing. But that doesn’t mean that it will continue to work that way.

"

more...
No comment yet.
Sign up to comment
Scooped by Philippe J DEWOST
Scoop.it!

FCA's Makoto Seta: 'Blockchains will transform the way regulators work'

FCA's Makoto Seta: 'Blockchains will transform the way regulators work' | cross pond high tech | Scoop.it
From www.ibtimes.co.uk - January 29, 2016 9:46 AM

Blockchain technology will transform the way regulators work, according to a member of the wholesale markets team at the Financial Conduct Authority, which is known to support the idea of "RegTech".

Makoto Seta, a senior associate from the trading conduct and settlement policy division at the FCA, was part of a panel hosted by Norton Rose Fulbright at its Unlocking the Blockchain session.


Seta said: "Might the blockchain transform the way the regulators work? I absolutely agree with that. I think there are a lot of benefits to be harnessed from distributed ledger, in terms of traceability and tracking, that makes it easier for us.

"I think regulators do now perceive this to be important; the degree of importance will probably differ between regulators. We look very seriously at it and have been doing that for some time now, looking at the technology and how it's been used. I think the issue that we have is, trying to sort of marry up the technical codes and how that interacts with the legal codes."

Philippe J DEWOST's insight:

A very novative (and inspiring) approach by the FCA combining how regulation applies to #Blockchain tech AND how such decentralized consensus could also apply to making regulation more effective.

more...
Dao Cong Binh's curator insight, January 31, 2016 3:39 AM

Cầu nâng, máy năn khung càng AT09, máy súc rửa kim phun,  MÁY VỆ SINH BUỒNG ĐỐT
Philippe J DEWOST's curator insight, February 16, 2016 9:08 AM

A very novative (and inspiring) approach by the FCA combining how regulation applies to #Blockchain tech AND how such decentralized consensus could also apply to making regulation more effective.
Sign up to comment
About Follow us Resources Terms Mobile Features
Facebook
X
LinkedIn