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Blockchain produces 6 million invoices in China in just one year

2019-08-07 03:04 pm | Resource: News Section | No Views : 35

Blockchain produces 6 million invoices in China in just one year China's major city of Shenzhen has issued nearly six million invoices, based on Blockchain in a year since its inception, in August 2018.
Shenzhen, one of China's largest special economic zones, processed about $ 550 million through block chain-based invoices a year.
More than 5,300 local companies in 113 sectors have joined the "Blockchain" invoice program in Guangzhou so far, according to a report by the state news agency Xinhua on Tuesday.
According to the Shenzhen Municipal Taxation Bureau, the average daily issue of the invoice is estimated at 44,000, while the total value of the invoices is 3.9 billion yuan ($ 553 million).
It was the first blockchain-based technology bill issued by a local restaurant in August 2018.
Shenzhen, a city in Guangdong Province and China's first special economic zone, tested the first block-backed bill on August 10, 2018, when the bill was issued by a local restaurant in Shenzhen.
As mentioned earlier, the block chain invoice system was developed by the Chinese Internet company Tencent - the developer of the WeChat social media platform - in cooperation with the tax office of Shenzhen.
Since the launch of the project, the use of block chain-based billing technology has gained momentum in a number of industries in Shenzhen, including finance, retail, catering and hospitality. In March 2019, local media reported that Shenzhen issued the first block chain invoice for the subway ticket.
Recently, technology-related news sites reported on the London-based Standard Chartered Bank, completing the first blockchain-based supply chain finance deal for the Digital Guangdong project, a joint initiative of Tencent, China Unicom, China Telecom and China Mobile.
Blockchain has become one of the best projects that many companies and governments rely on, and research on it to make the most of it, Block chain is the principle of the emergence and emergence of cryptocurrencies that become a major part of the current global economy In many countries of the world while digital currencies are still unable to do so, and perhaps the coming days may be a happy news on the market in general in light of the current high prices, which began in April last year.

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