The Guangdong Municipal Taxation Bureau will begin implementing a blockchain-based electronic invoice platform for the e-commerce industry. According to a February 18 report from the Southern News Network, the region’s first blockchain electronic invoice is meant for e-commerce customers and merchants.
The new electronic invoice platform based on blockchain will help the taxation authority improve the efficiency and transparency of the invoice services, reports said.
Guangdong province is among the most populated regions in China, which is why its local government plans to extend the blockchain-based electronic invoicing system to the large-scale e-commerce field.
Shenzhen, one of the largest cities in the province, has already successfully used blockchain technology for electronic tax invoices connected to the messaging app WeChat payment platform.