Search
Shenzhen to Use Blockchain Technology for Electronic Tax Invoices

14.12.2018

Shenzhen, a major city in the Guangdong Province and the first economic special zone in China, will use blockchain technology for electronic tax invoices. This development was reported by the China Economic Net

The Shenzhen Municipal Taxation Bureau and Chinese tech giant Tencent have “successfully connected the blockchain invoice system with the WeChat payment platform.” The article reports that WeChat, the 1 billion user social media platform operated by Tencent, has opened its payment platform for the blockchain invoice function.

According to the director of the Information Center of Shenzhen Taxation Bureau, a blockchain electronic invoice is different from a traditional electronic invoice, as it has “the advantages of ‘distributed’ storage, traceability and non-tamperability.”

Last week, the BeiShangGuang — an abbreviation that stands for the three major Chinese cities of Beijing, Shanghai and Guangzhou — has reportedly become China’s most concentrated area of legislation and policy related to the blockchain industry.

Be informed with Edinarcoin!

Views 514
SHARE
  • 63 000
Email
Name