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Is it possible for Telegram to let go of its 'underground internet' reputation as it prepares for an IPO?
Telegram is preparing for an IPO as it nears the milestone of 1 billion users, and is on the verge of becoming profitable. Despite its desire to present itself as a defender of free speech, it's undeniable that it serves as a safe space for illicit activities, and a communication hub for organized crime.
Experts in criminology and cybersecurity are keeping a close watch on Telegram, a platform that houses numerous groups and channels. They contend that it has transformed into a modern-day "dark web" that allows criminals and hackers to carry out unlawful actions without repercussions.
Cybersecurity professionals have characterized Telegram as a "communication hub for coordinated crime," underscoring its part in enabling different types of scams aimed at US government infrastructure. These activities have become increasingly popular among specific hacker groups.
Telegram's evolution from a simple messaging app in 2013 to a crucial source of news and a vital tool for coordination during global political and humanitarian emergencies like the Russia-Ukraine war and the Israel-Hamas dispute, highlights its wider influence.
Telegram's CEO, Pavel Durov, portrays the platform as a defender of privacy and freedom of speech, especially in oppressive governments. Telegram, with its growing user base of 900 million, primarily serves Asia, its biggest market, and has seen substantial expansion since 2021.
Offering functionalities similar to Twitter's broadcasting abilities and adopting a relaxed stance towards content control, Telegram has emerged as a potent platform for world leaders and oppressive governments alike. It acts as a communication medium for a wide range of users, from Ukraine's President Volodymyr Zelenskyy to Russian government agencies, and even extremist organizations like Hamas.
Some people perceive Telegram as a platform promoting freedom of expression and opposition, while others are worried about its part in enabling unlawful actions and spreading false information. As Telegram's impact grows, the issues regarding its control and accountability will probably become more pronounced.
Despite being a beacon for unrestricted communication, there are ongoing worries about Telegram's participation in illegal actions and spreading false information.
Moreover, Telegram acts as a sanctuary for individuals looking to avoid stricter rules on competing platforms such as Meta's Facebook and Google's YouTube, drawing in purveyors of false information, conspiracy believers, and radicals. Specialists warn that it is progressively being utilized as a means of propaganda by authorities, despite its use by the public for obtaining information.
Located in Dubai, Telegram has mostly sidestepped the regulatory oversight and legal issues often faced by comparable services in Silicon Valley. Pavel Durov, the CEO of the platform, portrays Dubai as an "impartial" location where the government does not meddle with their business activities.
As Telegram expands and looks into options for making money, such as advertising, it is increasingly compelled to tackle worries regarding its part in enabling illegal activities and upholding integrity. Jeff Allen, the co-founder and head research officer at the Integrity Institute, cautions investors to be mindful of these problems.
As worldwide regulatory bodies scrutinize Telegram, the anticipation for it to fulfill fundamental trust, safety, and integrity standards is increasing, a benchmark it presently fails to achieve.
Durov, along with his brother Nikolai, originally created Telegram to serve as a confidential communication platform in light of widespread surveillance disclosures. However, his struggles with the Russian government led to his exit from St Petersburg in 2014, despite his attempts to offer secure messaging.
Telegram's denial to allow Moscow to access user information led to a prohibition in 2018, though this was ultimately bypassed. Regardless, Telegram's image as a free speech forum expanded, with Durov being recognized as a defender of liberty.
As Telegram contemplates a possible entry into the market, worries about the Kremlin's influence remain, especially in the wake of Russia lifting its ban on the platform in 2020.
Even though Durov highlights Telegram's impartiality, doubts regarding its connection to Russia continue to linger. Regardless of claims that Telegram does not disclose confidential conversation details to authorities, skeptics express worries about the platform's oversight strategies.
Bringing in Western investors might necessitate resolving apprehensions regarding possible interference from the Kremlin in Telegram. Detractors note that after Russia abruptly lifted the ban on Telegram in 2020, Russian governmental bodies quickly embraced the platform.
Telegram has been implicated in enabling a range of illicit actions around the world, such as scams, weapons trading, and conversations between self-declared paedophiles. Regardless of Durov's assertions of vigilant regulation, apprehensions continue regarding Telegram's suitability for advertisers, given its connection to harmful material, which might obstruct potential income prospects.
As Telegram transitions into a medium for war-related discussions, there are growing worries about its vulnerability to propaganda and false information. Despite Durov's claims of diligent oversight, skeptics caution about Telegram's possible misuse and influence, emphasizing the challenges of maintaining free expression and platform honesty.
(Incorporating information from various sources)
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