Chinese Airspace Giant to Manage Accounting With Blockchain

News
Thu, 08/16/2018 - 18:04
Alex Dovbnya
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
Cover image via U.Today

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.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy