Bank of China Joins New Blockchain Platform for Property Buyers

Bank of China Joins New Blockchain Platform for Property Buyers

Property development firm New World Development and the Hong Kong Applied Science and Technology Research Institute (ASTRI) will jointly launch a blockchain platform for home buyers with the Bank of China reportedly being the first bank user. The news was announced by local news outlet the Standard on Feb. 20. The platform reportedly aims to replace paperwork operations — such as signing the Provisional Sale and Purchase Agreement or a mortgage application — with digital authorization. This will supposedly allow users to send the purchaser’s authorized, encrypted and digitally signed provisional agreement to selected banks. Integration of distributed ledger technology (DLT) into organizations’ internal processes is estimated...

Guangdong Province to Use Blockchain-Based Electronic Tax Invoices for E-Commerce

Guangdong Province to Use Blockchain-Based Electronic Tax Invoices for E-Commerce

The Guangdong Municipal Taxation Bureau will implement an electronic invoice platform based on blockchain for the e-commerce industry, local Chinese news outlet Southern News Networkreported on Feb. 18. Guangdong Province, one the most populated region in China, has opened the first blockchain electronic invoice service for customers and merchants, planning to extend their experience to the large-scale e-commerce field. By using a blockchain-based electronic invoice platform, the taxation authority will reportedly improve the efficiency and transparency of the invoice services, the publication underlines. The news outlet then states: “Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service...

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