Messaging Giant WeChat Suspends Third-Party Blockchain App

China’s most popular messaging application, WeChat, has frozen a third-party blockchain application designed to introduce the nascent technology to a wide user base.

The mini-program, called Xiao Xieyi (or Mini Protocol in a literal translation), was launched on Wednesday and touted as a service that would allow users on WeChat to initiate contractual agreements, according to the Chinese business news outlet Caijing. However, the app, which is owned by Tencent, suspended the program within a day.

Upon reaching consensus, the tool – developed by a Beijing-based blockchain-as-a-service platform called Niuco Box – would encrypt and record agreements on a blockchain for a fee. The funds raised through the app would pay miners who write transactions onto the network underpinning the application…

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