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China: the State and space group CASIC wants to manage accounting with Blockchain

2caf09703dd04f7002fa3e179b225f4c - China: the State and space group CASIC wants to manage accounting with Blockchain

The Chinese air and space group CASIC wants to manage its accounting in the future, with Blockchain technology. As the state newspaper People’s Daily reported, in hopes of savings in administrative costs.

A basic function of the Blockchain technology, the automated Manage databases. This will make the Chinese air and space group CASIC-to-Use, and accounting with Distributed Ledger technology upgrade.

As the Chinese state newspaper People’s Daily on Monday, the 13th. August, reported that trust in the currently active electronic accounting system for participating companies and suppliers to the organisation of the state to “operating limits”.

With the introduction of the Blockchain Software they wanted to avoid previous mistakes, such as incorrect or duplicate Sending of invoices and effective tracking set up. In addition, you plan, fiscal Standards, and thus especially “indirect administrative costs to reduce significantly.”

The Beijing-based state organization of China Aerospace Science and Industry Corporation, short-CASIC, developed the bulk of the Chinese air – and space technology. In addition to the production of satellites and space ship technology, the group is China’s largest producer of military missile and air defense systems. Thus, the group is, among others, of a variety of suppliers.

Reason for the technological Change of the technology group, especially the view in the near future, according to the article. While in the past year, only 1,31 billion electronic invoices in the middle Kingdom were in circulation, the organization of a veritable Explosion in the coming years. As forecasts expect that the number of electronic invoices in China, followed by the rise to 2022 of 54.55 billion. This would correspond to an annual growth rate of over 100 percent.

China in the Blockchain-to-noise

A similar attempt in the country’s Southeast city of Shenzhen dares these days. According to reports, the local municipal administration is currently cooperating with the Social Media provider Tencent. Together you want to make a block chain-based accounting system for the urban area to the legs.

Meanwhile, the government in Beijing is mainly decided on the growth moment of the Blockchain technology.

Like BTC-ECHO reported this week, the Communist party leadership cadres now a Blockchain-primer. In addition to the small crypto-once one of the Reader contains comments on the future hurdles and challenges of the technology. So they wanted to increase the understanding of the party members for any Blockchain-application and development in the country forward, reports state sources.

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