The tax bureau in Shenzhen worked closely with Tencent Financial Technology to roll out blockchain-based invoicing for transport systems in Shenzhen, including subways, taxis and airport shuttles. The
first blockchain-based invoice was issued for the metro departing from Shenzhen Futian station on the 18th of March 2018. Tencent is the company behind WeChat, China’s leading chat app with over one billion active users.
Passengers can view a blockchain-based invoice after they’ve completed their trip. Once the transaction is complete, the platform will automatically generate an electronic invoice which can be found within the WeChat or Shenzhen Metro mobile apps.
Cai Yige, general manager of Tencent smart transport, commented that the QR code for transport aims to provide a better user experience and improve efficiency. And the blockchain-system makes it easier for users to get an invoice. Previously travelers had to visit Shenzhen Metro customer services to get an invoice, with roughly 160,000 paper invoices issued daily. It also cuts the cost of printing by 400,000 yuan ($60,000) per year.
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