Tencent blockchain invoice project looks to have a promising future. Tencent, the Chinese internet firm, has been roped in by the state tax authorities in China to create blockchain-focused invoice standards. A report has highlighted how Tencent blockchain invoice project has found support from various countries, including Brazil, Switzerland, the United Kingdom and Sweden besides Chinese tax authorities. At this year, ITU-T international conference, these countries pledged support to develop such standards that will help global taxation authorities in their invoice processes. The project was originally designed in Shenzen to prevent anti-tax fraud in China. However, the company’s initiative quickly
