Binance CEO Changpeng ‘CZ’ Zhao has claimed that Chinese social network platform WeChat is using blockchain technology to track payments and receipts.
The tweet was posted alongside a screenshot that appears to show a WeChat Pay interface with a link to a block explorer.
— CZ Binance (@cz_binance) October 25, 2019
The legitimacy of the screenshot is currently unverified. However, the claim ties in with comments from China’s President Xi Jinping, who last week said that the nation will “seize the opportunity” to adopt blockchain technology.
A statement read: “It’s a safe play resorting to the strategy of ‘encircling the cities from the rural areas’, in which Libra coin could quickly enter markets with underdeveloped financial infrastructure, especially those that do not have a credible local currency of their own before it sets its foot in developed markets.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.