China will experiment with using blockchain to collect taxes

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The Chinese government has announced that it plans to start using blockchain technology for collecting taxes and issuing electronic invoices. It’s currently unclear exactly how that will work, but it could dovetail nicely with other digitization plans in the country. We’ve previously reported that China’s central bank is testing its own digital currency, and while that won’t necessarily be based on blockchain, it could still be neatly combined with a new approach for issuing invoices and collecting payments.

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