Russian Ban on Telegram App Likely to Impact Cryptocurrency & Blockchain

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Russian Ban on Telegram App Likely to Impact Crypto. Moscow court has approved the request of ‘Russian Media Regulator’ to block famous messaging app “Telegram.” The request was made on the basis as Telegram refused to to share encryption keys that are used to scramble user’s messages. The security officials said that they asked the keys to monitor terrorists.

Russian Ban on Telegram App Likely to Impact Crypto currency & Blockchain

On the other hand, the company officials said that:

“The way the service was built meant it had no access to customers’ encryption keys.”

But the court still ordered the company to hand over data to the security agency and given a deadline of 4th April, 2018 which Telegram missed and didn’t hand over the keys. This situation led to the ban on Telegram in Russia.

Read Also: After a FATWA, Bitcoin Witnesses an Explosive Growth of $1000 in Just 30 Min

On the other hand, Russia’s security agency FSB said that:

“Telegram is the messenger of choice for “international terrorist organisations in Russia”.

Impact of Telegram Ban on Cryptocurrency & Blockchain

For Russian netizens, among other alternatives like Twitter and Reddit, Telegram’s encrypted messenger was kind of escape that allowed the crypto related discussions. The best example of this is that various startups in Blockchain area are relied on Telegram to build and engage communities for keeping their user’s base updated.

Binance, a leading crypto currency exchange, has come up with a separate Telegram channel for its Russian users. Also this group has successfully boasted approximately 9000 users. According to BBC, even after the ban, the members of this group are still active by using VPN.

If Telegram including VPN remain blocked in Russian then this situation will seriously impact the crypto enthusiasts. Because no other platform offers same encryption capabilities.

Few weeks, Telegram CEO ‘Pavel Durov’ said on Twitter that “threats against its users’ privacy “won’t bear fruit.”

Source: The Next Web


Saima Khan

Saima Khan loves to research and write on various niches including IT, lifestyle, economy & finance etc. Her portfolio is diverse as Saima is an expert content marketer and helping brands grow with help of result-oriented digital marketing strategies.

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