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(Yicai Global) Feb. 18 -- Alibaba Group Holding has issued its first blockchain-based invoice on its premium Tmall platform as part of efforts to develop applications for the cutting-edge digital ledger in the e-commerce sector.
The Hangzhou-based online shopping giant has been testing blockchain invoices since the turn of the year in conjunction with local tax authorities in southern Guangdong province, local state newspaper Yangcheng Evening News reported. A Guangdong-based Tmall store operator became the first to use the service, which will be expanded gradually.
The platform will issue blockchain invoices automatically based on customers' purchases at pilot stores. Customers can preview the invoices in real time before downloading them or saving them on the Taobao mobile app.
Blockchain allows for secure data-sharing among tax authorities, invoice service providers and taxpayers, while also promoting online invoice regulation, according to the tax bureau.