Payments from Durov. Telegram is going to compete with Visa and Mastercard
Blockchain-TON platform will be able to correct the shortcomings of traditional networks promises online messenger. It will be a “fast and highly scalable multiplican system”. The document also States that TON can be considered as “decentralized supercomputer” and the money transfer system. “By combining the minimum transaction time and with maximum safety, the TON can be an alternative to VISA / Mastercard for the new decentralized economy,” sums up white paper.
Around the new blachan service Telegram promises to build a whole ecosystem of channel owners, developers, payment providers and merchants that will be using in its operations the special cryptocurrency Gram. She, however, will be available for players.
The developers are convinced that due to the tight integration with the application Telegram cryptocurrency wallet TON will be the most common in the world. They rely on their own experience design user-friendly interfaces that will make the new service is intuitive for users and the rapid growth of the audience of Telegram.
Now if a messenger is used by approximately 150 million people by January 2022, the team Durov hopes to increase this number to 1 billion Is considerably less than the number of clients Visa or Mastercard. For the first half of 2017, the number of Visa cards has reached 3.2 billion. Have Mastecrard, by the end of 2015, there were 2.3 billion card.
At the preliminary stage of ICO Telegram is going to attract $500 million — the money will be spent on network development, equipment and new technologies. The company is forced to resort to external financing due to expected rising costs for the messenger in connection with the expansion of the audience — the cost of Telegram may rise from the current $70 million to $220 million by 2021.
Director of development ecosystem “SKOLKOVO Venture investments” Stanislav Kolesnichenko is convinced that the ambitious plans of Pavel Durov’s Telegram transformation into a global competitor of Visa and Mastercard, have all chances to the embodiment.
He notes that traditional payment systems are afraid of such competition with the blockchain projects and are already taking preventive measures. “We see that Visa protects their own clearing and has limited early in the year partners in Europe, the issue of debit cards linked to bitcoin”, — quotes the expert an example.
According to him, the start TON is a natural development of business Telegram. In a similar way went Chinese service WeChat c 900 million active users — a payment system used by every fifth client of messenger in China, and accounts for up to 40% of the $5 trillion of turnover of mobile payments in the country, emphasizes Kolesnichenko.
Co-founder of kleptomanka Wirex Pavel Matveev adds that the payment system from Pavel Durov can be used in online retail — especially if the messenger will be able to create “Windows” for online stores. However, he doubts that TON really replace processing company — the same WeChat failed.
Chinese service only supplemented funding ecosystem along with the banks and UnionPay, says Matveev. “The future of the Telegram is seen more precisely in the field of private relations. Particularly with regard to cryptocurrencies, the legal status which is far from clear picture, and the fee can exceed the cost of purchased goods” — he said.
CEO Markswebb Rank & Report Alexey Skobelev agrees that the project has a TON more likely to complement traditional payment systems than to replace them. “Poorly understood how the new cryptocurrency Gram will interact with the world is Fiat money whether it is a closed ecosystem, or it can create third-party players,” he adds.
Technical Director FINTECH platform BankEx Vitaly Dubinin does not exclude that the appearance of the white paper of the project on the Internet can be a kind of information spreading Telegram with the purpose to test the reaction of potential investors before ICO. “However, if we assume that these plans have merit, then the chances of success are greater,” says Dubinin. He said that if Pavel Durov will be engaged in the liberalization of online payments, it can including to increase the number of customers and users messenger.