Yesterday President Donald Trump signed an executive order banning the use in the U.S. of China’s biggest social app WeChat, including “any transactions” with parent Tencent with details to be defined in 45 days when the ban comes into force. We explore the potential impact on China’s global blockchain ambitions and the multi-platform Blockchain Service Network in particular, which is due to have a global launch on Monday.
Tencent owned WeChat is China’s largest social network with more than a billion users and WeChat Pay is China’s second largest mobile payments network. On average, a billion payment transactions are processed daily by Tencent’s FinTech division.
Blockchain is relevant for several reasons.
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