Developed by Tencent as a Chinese messaging, social media and payment application, Wechat has suspended a third-party blockchain application that provides contractual agreements to users of the application, according to Caijing, a local media channel.
This mini program, called Xiao Xieyi, which was recently put on the market, enabled to use blockchain technology to make contracts on WeChat and create their own social media ID. According to what was reported, this made the contents and user identities real and reliable.
According to Caijing, this application made it possible for users to encrypt and store their Ethereum network-based agreements for a small transaction fee.
However, the market version was suspended a day later. After its suspension, the app noticed the users with the following statements:
“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 announced that the number of active users of WeChat increased by over 1 billion per month globally, making it the fifth largest social media network in the world. Most of the users are concentrated within the borders of China.
Recently, Facebook Messenger chief executive David Marcus said Facebook is exploring possible uses of blockchain technology. As part of this initiative, Marcus set up a small group to investigate the best ways to benefit from BlockChain across Facebook.