Chinese social media giant Tencent Holdings Ltd. will use blockchain technology to help local tax bureaus fight tax evasion. On May 24th, Tencent partnered with Shenzhen State Taxation Bureau to set up a smart tax lab, which will use cloud computing, artificial intelligence, block chain and big data to aid taxation management, including exploring the application in digital "fapiao" (tax receipts), and tax solution optimization, according to Tencent’s announcement. A fapiao is an official invoice issued by the Chinese Tax …

Tencent Uses Blockchain To Help Shenzhen Taxman Fight Tax Evasion appeared first on China Money Network.


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