Blockchain-Based Invoices Reached $1 Billion USD in China with 10 Million Invoices
Shenzhen’s pilot blockchain technology invoice system has reached a new milestone. The program known as ‘fapiao’ which allows the Chinese government to track purchases and prevent tax evasion, has just issued its 10 millionth invoice.
China Creates New Regulatory Authority for Blockchain Products and Digital Payments
Earlier this month, China's President Xi Jinping made announcements on blockchain prompting banks to begin investing in the industry. In line with this, it is reported the next direction will be a new digital currency for citizens in China to use.
Chinese City Tests Blockchain-Powered Cross-Border Financial Platform
Nanning, a Southern Chinese City, located in Guangxi Region, has experimented with a blockchain-enabled cross-border financial platform.
Tencent Gets Green Light for Blockchain-Enabled Invoice Standard
Tencent, a Chinese internet giant, has been given the go-ahead by China’s State of Administration of Taxation to generate a draft for a blockchain-powered invoice standard.
Bitcoin Continues to See Gains After President Xi’s Announcement
China Merchants Bank (CMB) has recently announced an investment in crypto wallet BitPie. BitPie is one of the longest-running crypto wallets in China.
Communist Party of China: Members Can Show Allegiance Through Blockchain
The Communist Party of China is offering a new app, whereby members will be in a position to show their loyalty by noting down the reasons for joining. The answers will be stored on a perpetual distributed ledger.
China’s Central Bank Rolling Out DCEP National Currency, While Saying ‘Libra Won’t Succeed'
China has been reportedly developing its central bank-issued digital currency for a while and is believed to be ready to launch by China’s central bank, People’s Bank of China (PBoC).
Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks
Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.
China Looking into the Application of Blockchain and AI for Cross-Border Financing
China is researching the application of blockchain technology and artificial intelligence in cross-border financing, focusing on risk management.
President Xi Urges Expedition of Blockchain Development in China
On Oct. 25, China’s President Xi Jinping said at the study session of the Politburo held on Thursday that the nation should accelerate the development of blockchain technology.