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"The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the world’s central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." But Telegram says people want to keep their chat history when they get a new phone, and they like having a data backup that will sync their chats across multiple devices. And that is why they let people choose whether they want their messages to be encrypted or not. When not turned on, though, chats are stored on Telegram's services, which are scattered throughout the world. But it has "disclosed 0 bytes of user data to third parties, including governments," Telegram states on its website. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. In 2018, Russia banned Telegram although it reversed the prohibition two years later.
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