Blockchain Application Meets Growing Demand for More User Control and Transparency in Social Apps
Hello Pal International Inc. (“Hello Pal” or the “Company”), provider of rapidly growing international social messaging, language learning and travel mobile apps, is pleased to announce that it has entered into a cooperation agreement with Shanghai Yitang Data Technology Co. Ltd. (“Yitang”) to transform the Hello Pal platform into one that is based on blockchain technology.
The main purpose of implementing blockchain technology is to develop the Hello Pal platform into one that is increasingly decentralized and user-driven, a platform where value that is created by users is returned to the users, and where power is also put back into the hands of users.
“Blockchain technology and decentralization are a natural fit for Hello Pal,” said K. L. Wong, CEO of Hello Pal. “The Company’s mission has always been to bring the world closer together, and the global and borderless nature of decentralization will enable the Company to create an even more borderless and all-inclusive platform for users all over the world. We instantly saw the synergy between the ideology of blockchain and Hello Pal’s core values and direction.”
The Company has partnered with Yitang to implement this transformation.
Originally a leading research and development company in Shanghai with patented trading engine and advanced core computational engine technology, Yitang has in recent years focused on developing and implementing blockchain technology, including innovative consensus algorithms, cutting-edge cryptography and smart contract engines for its clients, and has also partnered with the Softbank group in this area. Yitang to date has already helped many companies (including some with millions of users) to implement blockchain-based solutions, as well as total solutions for the management and settlement of digital currency, and global real-time payments solutions.
“We are very fortunate to have the opportunity to work with a company as experienced in the field of blockchain technology as Yitang,” said Wong. “They have a proven track record of helping companies transform their platforms and seamlessly adopt cutting-edge technology, and they will no doubt help us achieve our goal of making Hello Pal a platform that most closely reflects the user’s needs and desires.”
The Company also believes that a decentralized user-focused blockchain based social app is highly relevant in today’s environment where personal data has been a topic of focus. “The recent movement of users wanting more control of their data has been demonstrated by the Cambridge Analytica issues with Facebook, and we hope that our blockchain evolved platform will start to return this control to the users more and more over time,” Wong added.