WeChat withdraws its blockchain-based app on the day of its release

This Wednesday May 9 was the launch day of "Xiao Xiexi", an app based on blockchain for users of WeChat, the Chinese company of instant messaging services. But WeChat withdrew this one less than 24 hours after its launch, due to violations of certain unspecified rules.

According to Caijing's Chinese newspaper, Xiao Xiexi is an app that would allow WeChat users to store contractual agreements in the blockchain. This app, which is owned by Tencent itself, was developed by a blockchain services platform based in Beijing, called Niuco Box, and would basically encrypt and store agreements in the blockchain in exchange for a commission, with which it would be paid to the miners who work on this platform.

However, the program was quickly suspended by WeChat, who alleged that it would be violating certain rules of its platform, although no type of communication was issued that gave more information about these violations.

It should be noted that WeChat is considered the "WhatsApp of China". It is an instant messaging platform with more than one billion active users, and is owned by Tencent, the Chinese giant of mobile services and the Internet. Therefore, an app of the nature of Xiai Xiexi would represent an important effort to promote and disseminate blockchain technology among ordinary people and users of social networks in China.

At the moment, it is unknown if the app will be launched again as soon as the alleged violations are clarified. But this is not the first time that WeChat is related in some way to the blockchain, because last December this platform launched a portfolio compatible with the NEM cryptocurrency.

Something that is quite interesting is that WeChat, in addition, has become a tool that allows Chinese investors to evade in some way the regulations of the authorities. These people use the instant messaging application to contact intermediaries residing outside of China, looking for them to help them invest in Initial Currency Offers (ICOs), in exchange for a commission.

Several agencies that offer this intermediation service operate in WeChat, and there are also several discussion groups (similar to the WhatsApp groups) where cryptocurrencies are discussed and ICO is promoted. This is one of the ways that Chinese citizens have been able to participate in this type of investment, since the authorities of this country have banned both its celebration and all kinds of publicity related to them.