Fenqile Mall issued China’s 10-millionth blockchain-based electronic invoice

On October 30th, Fenqile Mall, a subsidiary of Lexin Group, issued the 10-millionth blockchain electronic invoice in China.
This is the 1007,749 invoice issued by Fenqile Mall after it was connected to the country’s first phase of blockchain electronic invoice system in June this year, marking a milestone in the national blockchain electronic invoice pilot project.

On October 30th, Fenqile Mall, a subsidiary of Lexin Group, issued the 10-millionth blockchain electronic invoice in China.

This is the 1007,749 invoice issued by Fenqile Mall after it was connected to the country’s first phase of blockchain electronic invoice system in June this year, marking a milestone in the national blockchain electronic invoice pilot project.

As a leading financial technology company in China, Lexin set up a blockchain laboratory in 2017 and applied for a number of blockchain technology patents. At present, Lexin is exploring the wide application of the shared “super ledger” based on blockchain to the reconciliation between internal business subsystems and the transaction and settlement process with cooperative financial institutions.

At the “Trusted Blockchain Summit 2018” sponsored by China Institute of Information and Communication, a scientific research institution directly under the Ministry of Industry and Information Technology, Lexin was one of the fist enterprises to join the Trusted Blockchain Boosting Plan. It was recognized as a council member of Trusted Blockchain Boosting Plan.

The block chain electronic invoice project is a key project launched by Shenzhen Taxation Bureau under the direct guidance of the State Administration of Taxation, with the application of Tencent’s underlying blockchain technology.

Since Shenzhen issued the country’s first blockchain electronic invoice in August last year, blockchain electronic invoice has successively started in many cases, such as catering, merchant retail, finance, rail transit, property, e-commerce, and so on.

At present, it has been connected to more than 7,600 enterprises, with the total number of invoices exceeding 10 million, and the amount exceeded 7 billion yuan.

Fenqile Mall said that people have experienced a lot of convenience after the online block chain electronic invoice. For example, block chain electronic invoices are used on demand, and companies do not need to go to and from the tax bureau regularly to receive and purchase invoices, which greatly reduces the work burden of the company’s tax staff and improves work efficiency; free use of tickets also allows enterprises to reduce additional financial costs.

In addition, when users shop on the platform, they apply for invoicing on their own, without human intervention, which reduces the manpower input of the enterprise.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/fenqile-mall-issued-chinas-10-millionth-blockchain-based-electronic-invoice/.

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