Chinese province will use blockchain-based electronic invoices
Guangdong, one of the most populous provinces in China, will use an electronic billing platform for natural and legal taxpayers
The province of Guangdong, located to the southern region of China, will implement a platform for the tax payment based on blockchain technology, through the Municipal Tax Office.
According to information published by the Southern News Network, the initiative at Guangdong will apply in the e-commerce industry for customers and businesses.
The province of Guangdong, one of the most populated in the country, will launch the billing system with blockchain technology to expand its experience in the field of large-scale electronic commerce. This seeks to improve efficiency and transparency in the billing process.
The authorities of the financial system estimate that the blockchain technology provides confidence and also allows deepening the tax transformation at a general level.
As an antecedent of this initiative it can be mentioned that in November 2018, the capital of Guangdong – Guangzhou – “was selected as the headquarters of the newly established blockchain alliance” oriented to finance and commerce.
M.Pino
Source: Cointelegraph
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