Crypto insurance is being introduced in China

 

“Guoren Property and Casualty Insurance” company has issued first blockchain-powered digital invoice in Chinese insurance industry. The firm is based in the busy Dongcheng District of Beijing. The company says that its blockchain-powered invoices will be “a powerful tool for tax authorities,” letting them apply “smart tax management” protocols. Also was added that customers could expect “more efficient, safer and smarter” insurance coverage, while corporate consumers could use the offering to implement more efficient invoicing, remission and tax declaration processes.