WeChat Pay Is Storing Transactions On Blockchain Says Changpeng Zhao
WeChat the popular social media mobile app in China is storing transaction data on to the blockchain according to a twitter thread from CZ CEO of Binance.
Following the tweet thread from Changpeng Zhao, he got a screenshot from Shenzhen that WeChat Pay is storing transactions on the blockchain with a link for the customer to view same on the explorer.
In the previous week Alipay had turned down rumors of partnering with Binance to encourage fiat deposits on Binance. This was few days after CZ announced possible integration with WeChat Pay and Alipay to ease fiat deposits for the Chinese.
Some days after, Xi Jinping the President of China had said China will focus on blockchain development in the country. He made the comments at Politburo Committee session on blockchain technology trends on Oct. 24.
China’s first blockchain-based electronic invoice for a subway ride was issued at the Futian Station in the Shenzhen Metro. This blockchain technology was jointly developed by the Shenzhen Municipal Taxation Bureau and WeChat’s parent company and Chinese tech giant Tencent.