Great news for Chinese entrepreneurs as the country issues first business license using blockchain and artificial intelligence. Now, to start a company all it will take is scanning of a code. The blockchain based first business license went live in the Guangzhou province of China. This implementation will allow fresh startups to register their application, open a bank account and submit a tax invoice altogether. This will be possible due to a mini Wechat program. As per the official sources, with use of blockchain, the time for registration will be less. Also, there will be no redundancy of information.

China is adopting the blockchain technology quite faster. It’s merging blockchain along with the government and private sector quite significantly. Recently, the first-ever blockchain enabled Notary office opened in China. Also, last month, the electronic invoice for subway rides was integrated with blockchain. If the development continues with this pace China will soon become the leading face in the world of blockchain technology.