WeChat, a Chinese messaging app, a social media, and an intermediate payment application developed by Tencent, has suspended a third-party Blockchain application to initiate agreements with users, according to local news site Caijing reported on May 9.
Xiao Xieyi, a small showcase launched on last Wednesday, will allow users on WeChat to create contracts and unique social media IDs using Blockchain technology. This app aims to ensure reliability and authenticity of users’ content and identities.
According to Caijing, Xiao Xieyi users can encrypt and record agreements on the Ethereum-based network with a small fee. However, less than a day after the app came into work, the content of the program has been suspended for violating user policies.
The question here is that why let it launched then suspended it? Is it the policy of China that banned blockchain and its applications that caused the situation? Or because of the lacked licensing procedures for operating new apps of Wechat?
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NILNilecoinTeam
