Client Introduction
Case details
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Client Introduction
Tung Kong Inc. which established in year 1996 is a A-share listed company in Shenzhen stock exchange (stock code: 002117). Headquarter office is located at Jinan, and the company has a total of nearly 2000 employees. Tung Kong Inc. focuses on providing products and services such as security ticket, electronic invoice, smart (IC) card, smart archives storage, new channel lottery ticket, self-service lottery device, RFID smart product, data processing and printing, color printing, label printing, etc. to government agency, public institution, bank, insurance company and enterprises from various industries. Thus, the company has become a leading enterprise in China compared with enterprises in the same industry.
Challenges and Requirement Analysis
As a leading enterprise in traditional invoice industry, Tung Kong Inc. had started deployment in the field when electronic invoice just emerged. However, as many electronic invoice billing platforms had established during early phase, some problems still exist when applied practically:
  • Complicated invoice checking procedures between different platforms, serious gap between information of different parties, low efficiency in invoice checking
  • Trust problem exists in certain invoice checking platforms, thus result in disagreement of invoice among parties
  • Invoice information can be easily tampered and causes financial loss to all parties
Vonechain Technology builds electronic invoice solutions based on blockchain for Tung Kong Inc. to solve problems occurred in electronic invoice billing platform
Provide a unique symbol code on chain for electronic invoice, store invoice information on chain to ensure invoice cannot be tampered
Use multicenter distributed storage based on blockchain, platforms become mutual trust nodes to enhance trust and at the same time increase real time interaction between platform information
Apply financial electronic invoice system as data node and provide data verification services
Results and Influences

Interaction between platform information increases, billing and checking efficiency have shown clear improvement

Authenticity of invoice increases, higher possibility in finding out false invoice, handle in time

Provide effective invoice management method for regulatory agency

Highly reduce risk of beneficiary when receiving invoice

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