Ep 753 - The Ton Society Builds for a Billion Users with Jack Booth

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Nov 27, 2024

Jack Booth, co-founder of the TON Society, discusses the ambitious origins of the Telegram Open Network and how it transitioned to a community-led initiative. He shares insights on simplifying crypto onboarding through Telegram’s wallet integration and the innovative features of the TON network that promote digital ownership. The conversation dives into the significance of user engagement in navigating blockchain innovations, and wraps up with a light-hearted look at today's chaotic cryptocurrency landscape.

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ANECDOTE

Telegram's Massive User Base

Telegram boasts 950 million active users, a huge potential user base for TON.
Wallet in Telegram, popular outside the US, allows easy crypto transactions like sending texts.

ADVICE

US-Friendly TON Wallets

Tonkeeper offers features like pre-paid fees and has 70 million users.
MyTonWallet and TonHub are other good wallet options, with TonHub launching self-custodial cards.

ANECDOTE

TON's Onboarding Challenge

TON uses viral mini-apps and games with airdrops to onboard users, simplifying crypto entry.
However, a challenge is converting these users into a highly liquid user base.

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Back in 2018, the popular messaging app, Telegram, sought to create it’s own blockchain platform, the Telegram Open Network, or TON. With plans to launch a billion dollar token raise with an ICO, and already acquiring over $1.7 billion in funding from private investors, it was going to be one of the biggest ICOs of all time.

And then things got… well, complicated. Long story short, the ICO never happened. Instead, the founders gave the blockchain project to the community. And today, Telegram is approaching 1 billion users. The blockchain project is open source and development is moving forward.

Today we welcome Jack Booth, a co-founder of the TON Society, to the show. A non-profit organization dedicated to decentralizing The Open Network (TON) and expanding community engagement, the TON Society may become a great model for how open source and community building can work on blockchain.

We’re going to tell a TON of jokes and have a TON of fun on this how many TON Puns can you tell episode #753 of The Bad Crypto Podcast.

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