TeleGram might be solving the problem of private messaging on the blockchain?

Possibly a monster succes with TeleGram's new coin called GRAM at the TON (TeleGram Open Network), its all new to me, but it looks like it could be a huge succes in the crypto currency space, since they have the biggest userbase ever. I am still not convinced about their blockchain technology, but their presentation looks very serious:

*After reading about that messages that are not encrypted by default and other information about the company, then I am more skeptical then at first sight. I think that something better can be build on the EOS blockchain, but on the other hand TeleGram has 200 million users that they onboard into a crypto currency soon. I might be testing it in the future, but I will probably not be spending much time on TeleGram.