Tencent to Use the Blockchain to Derail China’s Counterfeit Invoice Industry

Sellers of counterfeit, illegally-made receipts help businesses take advantage of tax loopholes in China, but that’s set to change with the application of blockchain technology in the handling of digital invoices.
Disrupting China’s Counterfeit Invoice Market
Faked official invoices are big business in China. One person who creates these legal proof of payments — “fapiao” in Chinese – calls herself Mrs. Wang.
She claims that in just 24-hours a fake receipt can