WeChat, a Chinese messaging, social media, and payment application developed by Tencent, has suspended a third-party blockchain application that initiates contract agreements by app users, local news outlet Caijing reported May 9.
Xiao Xieyi, a mini-program launched on Wednesday, was promoted as a service to allow users on WeChat to create contract agreements and a unique social media ID using blockchain technology. This reportedly would ensure that the content and users’ identities are authentic and reliable.
The app, according to Caijing, would allow users to encrypt and record Ethereum network based agreements for a fee. However, less than a day after launch, the application was suspended. The app stated:
“Xiao Xieyi has been suspended due to violation of the service. We apologize, the content of the program has been suspended due to the fact that the content is not authorized on the platform.”
In March 2018, Tencent CEO Ma Huateng said that the number of active users of the messaging app exceeded 1 bln per month worldwide, making it the fifth largest social media network worldwide. The majority of users is concentrated in China.
Recently, David Marcus, the head of Facebook’s messaging app Messenger, announced that the social media site is exploring possible applications for blockchain technology. As part of the initiative, Marcus will reportedly set up a small group to explore how to best leverage blockchain across Facebook.
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