China Aerospace Looks at Blockchain to Solve Billion-Invoice-Sized Issue
Cryptovest
Published Aug 15, 2018 08:02AM ET
Updated Aug 15, 2018 09:20AM ET
China Aerospace Looks at Blockchain to Solve Billion-Invoice-Sized Issue
China’s state-owned Aerospace Science and Industry Corporation Ltd. (CASIC) is looking to blockchain technology to improve its electronic invoice system by making it more efficient and easy to use, the official People’s Daily , reported.
The State Administration of Science, Technology and Industry for National Defence also outlined ways how blockchain could be utilized to innovate the use of invoices for tax purposes across the country.
The mouthpiece of the Communist Party of China (CPC) writes:
“The use of electronic invoicing can significantly reduce corporate invoice purchases and indirect management costs. The system developed by China Aerospace Science and Industry Corporation Limited Aerospace Information Co., Ltd. can seamlessly interface with the internal information system of the company and realize the comprehensive digitization ...
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