October 29, 2019 Tencent to lead drafting of international standards for blockchain based invoices.

The project, named “General Framework of DLT-Based Invoices”, was approved at an ITU-T international meeting Tuesday, supported both by countries like the U.K. China’s tax officials, along with Tencent’s blockchain invoice project was backed by multiple countries, including the U.K., Switzerland, Sweden and Brazil, as well as China’s State Administration of Taxation. Tencent will be joined in drafting by the China Academy of Information and Communications Technology, as well as the Shenzhen taxation bureau.