Chinese Messaging Giant WeChat Shuts Down 3rd Party Blockchain App

Chinese Messaging Giant WeChat Shuts Down 3rd Party Blockchain App

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WeChat, a popular Chinese Super App developed by Tencent which offers multiple products like messaging, social networking and payments within the same app has blocked a third party Blockchain app.

WeChat is one of the world’s largest platform with more than 1 Billion active users worldwide. WeChat has support for ‘Mini-Programs’ where developers can create applications to run within the messaging platform. The company just suspended Xiao Xieyi, the first blockchain mini-program on the platform.

Xiao Xieyi, which was launched on Wednesday allowed users to create encrypt and create contracts on the Ethereum Blockchain without having to leave WeChat. Tencent blocked the mini-program in just one day after it was launched.

Xiao Xieyi was developed by Beijing based blockchain company called Niuco Box. Users would be able to create contracts on the blockchain for a flat fee of 3 RMB ($0.50)which would be used to pay the miners who write the contract on the blockchain.

WeChat gave the following statement on Xiao Xieyi’s suspension:

“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.”

China took a hard stance against Cryptocurrencies this year, entirely banning their trade and ICOs. However, they are extremely optimistic about Blockchain. The government is hoping to have Blockchain standards in place by 2019 for products and services to make use of. Just last month, a $1.6 Billion fund was created to support local Blockchain startups with the help of the Government.

However, the developer claims the App was not suspended because they use Blockchain, but because they encrypt the data. Wang Dengke, the founder of Niuco Box told Securities Daily, “Mini-Programs are not allowed to have encryption features. We need to tweak the code to remove encryption, and if everything goes according to our plans, we should be back on WeChat within two days.”

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Published at Fri, 11 May 2018 09:37:00 +0000

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