In order to attract more tourists to the region and also issue tamper-proof invoices, the Yunnan province in China is working with blockchain technology. One of the most important things they are working on is an invoicing system that is cost-efficient and also easy to use.
Yunnan Province Works With Blockchain Technology
According to a recent report released by ECNS, the first blockchain-based invoice system for tourists was launched to the market in Yunnan. The intention is to attract more tourists by improving the services offered.
The new invoice service was presented at an international forum that was held in Yunnan. At the event were present more than 1000 attendees from internet companies, government organizations and more. Some of the countries present included France and also the United Kingdom.
Tourists are going to be able to submit their applications for invoices using their smartphones. In this way, they will be receiving the invoices in 48 hours. By using distributed ledger technology, tourists can be sure that the invoices are not going to be modified or changed. Furthermore, there will be also a positive effect on costs due to the fact that companies will not have to pay for printing paper invoices.
Although virtual currencies are not allowed for trading in the country, blockchain technology continues to expand in the Asian nation. It is worth mentioning that China is a leader in the blockchain market after registering the highest number of blockchain projects in the world according to a recent report released by China.org.
A few weeks ago, we wrote at UseTheBitcoin that VeChain (VET) has also decided to partner with Walmart China to be able to trace different perishable goods such as food.
Through this agreement with Walmart China, VeChainThor blockchain is going to power the Walmart China Blockchain Traceability Platform (WCBTP) with the help of PwC, Inner Mongolia Kerchin and the China Chain-Store & Franchise Association.
There are many other blockchain projects around the world that aim at improving different industries and sectors. For international commerce and to reduce paperwork, distributed ledger technology is a very useful tool. Moreover, supply chains are also going to be improved by the implementation of blockchain tech over time.
China is also an important place for crypto mining firms with some reports affirming that the country is the home of 70% of the miners in the world.
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