Chinese Messaging App WeChat Suspends Third-Party Blockchain Appbr>
Chinese messaging app WeChat has suspended a third-party blockchain application that initiates contract agreements by app users.
The blockchain application, called Xiao Xieyi, was developed by Beijing-based blockchain-as-a-service platform Niuco Box and was launched on Wednesday. The application was promoted as a service to allow users on WeChat to create contract agreements and a unique social media ID using blockchain technology, ensuring that the content and users’ identities are authentic and reliable.
WeChat, developed by Tencent, is one of the world’s largest standalone mobile apps by monthly active users, with over 1 billion monthly active users (902 million daily active users). It has been called China’s “app for everything” and a “super app” because of its wide range of functions and platforms. It provides text messaging, hold-to-talk voice messaging, broadcast (one-to-many) messaging, video calls and conferencing, video games, sharing of photographs and videos, and location sharing.
According to Chinese business news outlet Caijing, the app would encrypt and record agreements on a blockchain for a fee. The funds raised through the app would pay miners who write transactions onto the network underpinning the application.
However, less than a day after launch, the blockchain application was suspended. WeChat said the blockchain app has violated rules on the platform, though the exact violation remains unknown.
“Xiao Xieyi has been suspended due to violation of the service,” WeChat said. “We apologize, the content of the program has been suspended due to the fact that the content is not authorized on the platform.”