Home blockchain technology Shenzhen Introduces Blockchain Electronic Invoice System In Various Fields And Aspects

Shenzhen Introduces Blockchain Electronic Invoice System In Various Fields And Aspects

Shenzhen Introduces Blockchain Electronic Invoice System In Various Fields And Aspects

  • Shenzhen surpassed Beijing, Guangzhou, and Shanghai in 2017, emerging out as the most appealing city of the Chinese.
  • On December 25, 52 of China Pacific’s Coffee Shenzhen stored provided full access to the blockchain electronic invoice system.
  • The nation’s first blockchain invoice issued at the Shenzhen International Trade Revolving Restaurant on August 10, 2018.

Shenzhen surpassed Beijing, Guangzhou and Shanghai in 2017, emerging out as the most appealing city of the Chinese.

On December 25, 52 of China Pacific’s Coffee Shenzhen stored provided full access to the blockchain electronic invoice system. Before the online payments, invoices could be an issue on a mobile phone at any time and any given places.

It has also come to the notice of everyone that unlike the traditional invoices, the Shenzhen Municipal Tax Bureau’s blockchain electronic invoice platform differed in the fact that it combines invoice issuance and online payment.

Not just this but the entire process of the invoice application, invoicing, reimbursement and tax reporting, realising the absence of consumption scenarios and tax services were also some of the notable features which included in it.

Once the transaction has completed, the consumers were free to apply for invoicing through their mobile phone by making use of the WeChat function. WeChat is an app which is readily available on everyone’s mobile phones in their play store or apple store.

The enterprises also had the option to implement numerous functions further. Like billing statistics and transaction reconcilable on the blockchain invoice background.

Additionally to this, the blockchain electronic invoice can also be connected to the company’s financial software to achieve real-time statistics as well as calculations. The results will be real and credible, which can later extend to tax declarations.

As per the data, which released in 2018, Tencent had joined hands with Shenzhen Municipal Taxation Bureau to establish a “smart tax” laboratory. With this, they were going to take the lead in launching the “blockchain electronic invoice” nationwide. The nation’s first blockchain invoice issued at the Shenzhen International Trade Revolving Restaurant on August 10, 2018.

Eventually, the blockchain electronic invoice pilot continued to advance, gradually expanding the scope of the pilot industry and enterprises. It widely used by several industries dealing with financial insurance, retail supermarkets, hotel catering, etc..

It successively connected to the China Merchants Bank, Walmart, Baiguoyuan, Shenzhen North Railway Station and various other clothing, transportation scenes. The data also shows that after more than one year of Shenzhen blockchain electronic invoice applications. The invoices had gradually exceeded to 14 million.

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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