Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors
Encrypted messenger service Telegram will release a test version of its blockchain-based TON platform “this autumn”. Investors “confirmed” the authenticity of a circular sent to participants in TON’s Initial Coin Offering (ICO) at the start of September. Once in operation, TON will also make use of its in-house cryptocurrency, Gram, and will form a “new way of exchanging data.” Telegram attracted considerable attention earlier this year when it raised almost $1.8 billion in investments for TON and its current messenger app via two private ICO presales. Following the success of the fundraising, in May executives subsequently cancelled the planned public phase of the ICO.
Kenyan Gov’t to Use Blockchain in New Affordable Housing Project
Kenya’s government plans to deevelop blockchain technology to manage a government housing project of 500,000 units. The government of Kenya aims to build 500,000 units by 2022, and assist contributors earning less than 100,000 Kenyan Shillings ($992) as they cannot afford hypothec. Blockchain technology will be used to ensure the proper distribution of housing to deserving participants in the program and address issues of graft from both legislators and beneficiaries. The project will reportedly be financed by the National Housing Fund under the Finance Act of 2018, to which Kenyans will contribute 1.5 percent of their salary that will be matched by their employers. Kenya will use blockchain technology to ensure the rightful owners live in government funded housing projects.
Fifth Largest Crypto Exchange Huobi Lists Four USD-Backed Stablecoins, Following OKEx
Starting Friday, Oct. 19, crypto exchange Huobi will start accepting deposits of four USD-backed stablecoins – Paxos Standard (PAX), TrueUSD (TUSD), USDCoin (USDC), and Gemini Dollar (GUSD). The stablecoins are already available on Huobi Wallet, while the launch time and other details are set to be announced at a later time. OKEx has already launched deposits in the four stablecoins, with withdrawals available starting from today. Also on Oct. 15, blockchain trust company Paxos announced it had issued about $50 million worth of its stablecoin Paxos Standard Token. The Ethereum (ETH) blockchain-based stablecoin has received regulatory approval from the New York State Department of Financial Services (NYDFS) on September 10, together with another stablecoin Gemini Dollar that was launched by Winklevoss brothers. Yesterday, BitPay also launched stablecoin support, enabling merchants to receive settlements in Gemini Dollar and Circle USD Coin (USDC).