Tencent will use the blockchain to recover the costs of the company's employees

Tencent will use the blockchain to recover the costs of the company’s employees


Technological giant Tencent expects that the blockchain will be able to accelerate the process of reimbursing the company’s employees, and is already testing the technology through the WeChat application, CoinDesk reports.

According to a report published on Friday, Tencent launched a pilot project in a restaurant in the Chinese city of Shenzhen, which allows users to pay bills using the existing payment application WeChat Pay.

Tencent claims that sending payment information from the restaurant to the visitor’s employer through the blockchain can eliminate the delays that are observed when manual processing of such operations. The company expects that in the future, its system will be widely used to reimburse employees and help to prevent falsification of accounts.

Currently, China has a complex system of settlements in which different accounts are issued for individuals and companies. For example, when a restaurant visitor wants an employer to pay for his visit, he must ask for an account in which it is necessary to indicate the taxpayer number of the company.

Accordingly, they have to manually enter this number each time. In addition, this process involves a number of additional steps, such as the collection of bills and their payment, which is also done manually and slows down the payment of final compensation.

To test the technology connected parking near the stadium “Bamboo Forest” in Shenzhen, a workshop and a restaurant belonging to Tencent.

Earlier Tencent agreed to cooperate with the government of the country in the framework of the blockchain project on counteracting tax evasion.

Leave a Comment

Your email address will not be published.

You may also like

Hot News