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Is Telegram able to rid itself of its 'underground network' reputation as it progresses towards an IPO?
Telegram is preparing for an IPO as it nears the threshold of 1 billion users, and is on the verge of becoming profitable. Despite its efforts to present itself as a defender of free expression, it's undeniable that it serves as a hub for illegal activities and a social media site for coordinated crime.
Criminology and cybersecurity specialists are keeping a close watch on Telegram, a platform that hosts myriad groups and channels. They contend that it has transformed into a modern "dark web," a space where criminals and hackers can partake in unlawful actions without any repercussions.
Cybersecurity professionals categorize Telegram as a "communication hub for systematic criminals," emphasizing its part in enabling different types of scams directed at US government systems, which have become increasingly popular among specific hacker groups.
The progression of Telegram from a mere messaging application in 2013 to becoming a crucial news outlet and coordination tool amid geopolitical and humanitarian emergencies like the Russia-Ukraine war and the Israel-Hamas conflict, highlights its wider influence.
The CEO of Telegram, Pavel Durov, promotes the platform as a defender of privacy and freedom of speech, especially in oppressive governments. Telegram, which has seen substantial growth since 2021, has a user base of 900 million, with Asia being its biggest market.
Telegram, with its functionality similar to Twitter's broadcast features and a relaxed stance towards content moderation, has emerged as a significant platform for world leaders and autocratic governments alike. It is used as a means of communication by a wide range of users, from Ukraine's President Volodymyr Zelenskyy and Russian government agencies to militant organizations such as Hamas.
Some people see Telegram as a sanctuary for freedom of expression and disagreement, while others worry about its part in aiding illegal acts and spreading false information. As Telegram's impact keeps growing, the issues about its control and accountability are expected to become more severe.
Even though Telegram serves as a channel for unrestricted expression, there are ongoing worries about its association with illicit actions and the spread of false information.
Moreover, Telegram acts as a refuge for individuals looking to avoid stricter regulations on competing platforms such as Meta's Facebook and Google’s YouTube. This attracts purveyors of false information, conspiracy proponents, and radicals. Experts warn that it is progressively being used as a medium for government propaganda, even though citizens depend on it for news.
Telegram, which operates out of Dubai, has been able to dodge the regulatory oversight and legal issues that other similar platforms in Silicon Valley have struggled with. Pavel Durov, the CEO of Telegram, depicts Dubai as a "neutral" territory where the government does not meddle in their business affairs.
As Telegram continues to expand and investigate ways to generate profit, such as advertisements, it's experiencing increasing pressure to tackle concerns about its part in enabling illicit activities and upholding integrity. Jeff Allen, who co-founded the Integrity Institute and serves as its primary research officer, cautions investors to be mindful of these matters.
As international regulatory bodies scrutinize Telegram, the anticipation for the platform to uphold fundamental standards of trustworthiness, security, and honesty is increasing. Currently, Telegram fails to meet these expectations.
Durov, along with his brother Nikolai, initially created Telegram as a confidential means of communication in light of widespread surveillance disclosures. Yet, despite their attempts to offer secure messaging, Durov's clashes with Russian officials resulted in him leaving St Petersburg in 2014.
In 2018, Telegram declined Moscow's request to access user information, leading to a prohibition that was eventually bypassed. Nevertheless, Telegram's image as a haven for unrestricted speech flourished, with Durov being lauded as a defender of liberty.
As Telegram nears a possible entry into the stock market, worries about the Kremlin's influence persist, especially after Russia lifted the ban on the platform in 2020.
Even though Durov highlights Telegram's impartiality, doubts regarding its connection to Russia continue to exist. In spite of claims that Telegram doesn't distribute private conversation information to authorities, skeptics question the platform's regulation strategies.
Drawing in Western investors might necessitate resolving worries regarding possible Kremlin control over Telegram. Detractors emphasize that after Russia unexpectedly lifted the ban on Telegram in 2020, Russian governmental bodies quickly embraced the platform.
Telegram is often associated with enabling a range of unlawful actions worldwide, such as deception, weapon trafficking, and conversations among self-admitted child molesters. Even though Durov insists on rigorous moderation, worries continue about Telegram's suitability for advertising due to its connection with harmful content, which could potentially hinder income prospects.
As Telegram evolves into a channel for communications during conflicts, there are growing worries about its vulnerability to propaganda and incorrect information. Although Durov insists on thorough supervision, skeptics caution about the possibility of Telegram being used for manipulation and pressure, highlighting the challenges of maintaining a balance between freedom of expression and the credibility of the platform.
(Incorporating information from various sources)
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