May 11, 2018 at 08:29
May 11, 2018 at 08:29 UTC
WeChat Dismisses Third-Party Blockchain App
WeChat, China’s most popular text messaging service, has recently blocked a third-party Blockchain application which was actually designed to expand the user base of the app using nascent technology. Blockchain technology was not widespread until a few months in the field of messaging apps. But the recent inclusion and exclusion of such an app by WeChat signifies that there is more to come in the near future with obvious further development. The mini-program or mini-protocol called Xiao Xieyi was launched on Wednesday, May 8, with a view to allow users to start Contractual Agreements, according to Chinese Business News Outlet Caijing. However, the program was suspended within 24 hours of its launched owing to some faults in its development.
When enquired about consensus the tool- developed by Nico Box, a Beijing-based Blockchain-as-a-service platform, it was learnt that the team had developed the app in a way that it would record agreements and encrypt them on a Blockchain in exchange for a fee. The miners who write the codes for transactions onto the network and underpin them are given a part of the raised fees.
This move by Chinese Blockchain developers is a sign of the next generation of technology to be used in the working process of social media. Though still at a budding phase, this technology is growing rapidly and is expected to be injected across all major social media platforms in a very short span of time. Regarding the suspension of the mini-protocol from WeChat, the app displayed that the app’s policies were not in line with the working of the protocol as yet.
As of now, the officials of the app could not be reached for further queries and an official statement from them is eagerly awaited.