The Securities and Futures Commission of Hong Kong has raised concerns over activities with two crypto entities.
Telegram has previously lived on the wild side of cryptocurrency and now the popular messaging app is seeking to become even more involved with the debut of Telegram Passport – a new personal ID took which users can employ to securely share their identity with third parties.
According to Telegram, the tool will specifically be geared to share data with “finance” and “ICOs”, and while it is presently based on Telegram’s cloud services, the platform would be moved to a “decentralized cloud” in the near future.
In an official announcement, the company welcomed the new service into the world – saying:
“Our digital lives are getting closer and closer to the real world, and the number of services that need to know your real-life ID increases accordingly. Before today, this meant you had to upload the same document scans over and over for each new app. No more!
Meet Telegram Passport – a unified authorization method for services that require personal identification. Upload your documents once, then instantly share your data with services that require real-world ID (finance, ICOs, etc.).”
The platform enables users to register their personal information and then share such data securely with third parties. Identity documents and personal data will be stored using end-to-end encryption, and are secured through a user password.
Telegram has confirmed that the tool is presently being integrated with ePayments – digital payment operator – in a move that will usher in what is described as “first electronic payments system to support registration and verification”.
ePayments itself claims to service more than 500,000 freelance customers and 1,000 businesses, and presently supports Bitcoin Ethereum, Bitcoin Cash, and Litecoin. It remains to be seen as to whether the payments processor has any plans to accept Telegram’s TON tokens, or whether Telegram’s Passport service will indeed move to a blockchain in the near future.