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Chinese Airspace Giant to Manage Accounting With Blockchain

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Thu, 16/08/2018 - 18:04
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Chinese Airspace Giant to Manage Accounting With Blockchain
Cover image via U.Today
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CASIC, the biggest Chinese space company, is turning to distributed ledger technology in order to enhance the efficiency of its accounting. According to China’s state-owned media outlet, the utilization of the Blockchain-powered software will let the Beijing-based firm properly manage the gargantuan electronic invoice system while eliminating its numerous challenges, including the tractability problem. Every bill can be traced and verified with the help of the Blockchain.

The new technology has already entered into a testing phase. The system is expected to add more than 300,000 invoices.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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