While the recent announcement of messaging app Telegram about launching its own token is generating expectations, it’s also generating concern from some sectors of public opinion. The reason: terrorism.
According to a report issued by the Washington-based Middle East Media Research Institutes (MEMRI), terrorist organizations such as ISIS, Al-Qaeda and Hamas have used social networks, messaging applications and cryptocurrencies as mechanisms to raise money for years
However, the most worrying point of this report is that the upcoming distribution of Telegram’s Gram token and the launch of its blockchain network could make the situation worse. In fact, there’s evidence of terrorist organizations that use Telegram to spread fundraising campaigns, requesting donations in Bitcoin and other cryptocurrencies.
MEMRI has notified Western government agencies about these findings. They have also required the support of Pavel Durov, CEO of Telegram, to take action against the terrorists who use the application.
Despite this, Telegram has plans to start distributing the first batch of its Gram tokens in the next months, while making 200 million token wallets available worldwide.
Even though the concern about the possible terrorist use of Gram token remains latent, only time will tell if this new crypto will have an impact on the way these groups are financed.