Tencent, the major tech company behind WeChat, is looking at blockchain technology in order to ease company reimbursements. According to a recent blog post, the first transaction to bypass the multiple manual verification steps was completed in a Shenzhen restaurant.
“Today, the country’s first blockchain electronic invoice was opened in Shenzhen Guomao Rotary Restaurant, announcing that Shenzhen has become a pilot city for blockchain electronic invoices nationwide,” the company said in a blog post.
In China, shops can issue two types of receipts –for individuals and for companies. Whenever an employee wants to be compensated for …
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.