(Yicai Global) Jan. 15 -- Bill-printing firm Tungkong Inc. will collaborate with a blockchain technology company to ply e-invoice and e-bill businesses, it announced.
Tungkong Inc. [SHE:002117] will establish a blockchain research lab with Jingtum Tech. Tungkong will appropriate special funds to develop an electronic invoice ecosystem based on blockchain, as well as e-bills, archive management services, radio-frequency identity (RFID) and data and other applications using the digital ledger technology.
Blockchain will solve the problem of repeated reimbursements and entries with e-invoices and e-bills, as well as issues of recurring payments, Tungkong Inc. stated.
This cooperation has not boosted Tungkong's stock price, however. Its share price fell 2.88 percent to CNY21.9 (USD3.38) per share by midday.