Chinese Messaging Platform WeChat Blocks Third-party Blockchain App
Chinese social media and messaging platform WeChat which is owned by Tencent has disabled a third-party blockchain-based application that is used to facilitate contractual agreements with the users of the app.
The third-party application blocked by WeChat is a mini-program called Xiao Xieyi which was launched on the messaging platform on Wednesday. It was marketed as a product that would make it possible for users on the WeChat messenger to initiate contractual agreements. The app was thus designed to leverage the power of smart contracts which represent one of the major features that blockchain technology has to offer.
A Chinese news outlet called Caijing revealed that the blockchain application was designed to facilitate the creation of irrevocable agreements within just three minutes. It uses blockchain technology and WeChat unique ID to facilitate the reliability and authenticity of content while also making sure that the identities of the two parties involved are reliable. The system also relies on the cooperation of senior lawyers to preserve electronic evidence at any given time.
According toCaijing, Xiao Xieyi would let users record and encrypt content agreements on the Ethereum-based network and that the process would include a fee. Unfortunately, the blockchain-based feature was suspended just one day after its launch. The Chinese news outlet revealed that the feature was blocked because that type of service had not been authorized on the WeChat platform and violation of service.
The third-party application was developed by a blockchain-as-a-service platform known as Niuco Box. It represents one of the first attempts at merging Blockchain-based technology with regular technology to facilitate improved service delivery and thus making such technology accessible to social media users. Despite being suspended, the feature might usher in many other such applications designed to feature more automation to help users achieve various goals or objectives with ease.
WeChat did not offer other details regarding its decision to suspend the feature other than giving the reason behind the decision to pull down the feature. Other than that, it is not clear whether the feature will make a comeback in the future. Meanwhile, WeChat is currently one of the top social media platforms in the world. Pony Ma, the CEO of Tencent revealed in March this year that the messaging platform boasts of more than 1 billion active users on a monthly basis all around the world. It is currently ranked as the fifth largest social media platform globally, thus competing with the likes of Facebook and SnapChat.