This site uses cookies. and this alert will appear once and then not again.

Electronic invoicing is already changing the way that businesses handle the administration of indirect tax.  According to one firm, filing an e-invoice as opposed to a paper invoice saves €6.40 and, according to another market report, automated e-invoicing will result in 60-80% savings over each conventional paper invoice.  Invoicing on blockchain, which is quicker and more secure than traditional e-invoicing – is already a reality.


In August 2018, a blockchain-based invoicing system made its debut in the Chinese city of Shenzen, but the company which issued the first blockchain-based invoice was not a leading innovator in technology: it was a restaurant.  Neighbouring businesses, which were the next to join this new system, included a car park and an auto repair shop. Blockchain is a technology which can serve all businesses, of all sizes, across all sectors.


Invoicing on blockchain allows a company to perform all the duties that are important to VAT compliance plus it creates the perfect environment for meeting all the strictest requirements of e-invoicing regulations around the world.  Counter-party acceptances, contract verification, “know your customer” checks, and payment can all be performed instantly on the blockchain.