Bitcoin social network ZapChain shuts down

FinTech | September 1, 2016 By:

ZapChain, a bitcoin-powered content monetization startup headquartered in San Francisco, has ceased its operations.

The decision to shutdown ZapChain was first revealed by CTO Adam McKenna in an online post in June. He said that the platform is shutting down as it is unable to obtain additional funding for development and hosting costs.

“ZapChain doesn’t really use much in the way of server resources, and keeping the status quo does not take up a ton of our time, so we were planning to keep the site going on the side, but our backend databse provider (Parse) is being shut down by Facebook by January, so within the next six months we would need to completely rewrite the DB backend in order to keep things going. Unfortunately neither Matt nor I have the time to do this in our off hours, and we both need to work full-time to keep ourselves and our families/kids/SO’s fed, clothed, housed and happy in general,” said McKenna.

There are speculations about Adam McKenna’s plans to create yet another content monetization and sharing platform. The new platform may be powered by some of the elements from the original ZapChain platform. There is no concrete information available in this regard yet.