Chinese Airspace Giant to Manage Accounting With Blockchain

  • Alex Dovbnya
    📰 News

    CASIC is turning to distributed ledger technology in order to enhance the efficiency of its accounting. It will let the firm manage gargantuan electronic invoice system


Chinese Airspace Giant to Manage Accounting With Blockchain

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.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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