Telegram Introduces Identity Service for ICO Verification
July 29, 2018
Telegram Messenger has launched a new feature related to cryptocurrency. Telegram Passport is an analogue of KYC for ICOs, or an "unified authorization method for services that require personal identification". Telegram considers this as one of the main use cases of their new feature. Telegram Passports are protected by end-to-end encryption and will be eventually transferred to a decentralized cloud.
Telegram Messenger demonstrated the first integration of their new service in an official
ICO participants are already familiar with all those options. Moreover, ICOs will be able to recognize users with Telegram Passports, which will make the messenger even more popular. Among other things, there are bots, that can automatically add all people with a Telegram Passport to ICO's whitelists.
However, there are some cons, too. There is always a risk, that the system with a large amount of lucrative and confidential information can be hacked. Also one can expect, that there will be an illegal trading of verified accounts.