Will China Use Blockchain To Collect Taxes?

Authored by Mac Slavo via SHTFplan.com,

The Chinese government listed blockchain in its “Thirteenth Five-Year” National Informatization Plan from 2015, and since that time the nation has been working diligently toward the incorporation of the technology into daily life.

China has just announced that it will use blockchain technology for social taxation and the issuing of electronic invoices.

The government’s announcement that it “will utilize blockchain technology for social taxation and electronic invoice issuance matters,” has been met with silence from the mainstream media.

China has already launched a test of its own cryptocurrency based on the technology, so these initiatives should be able to build on each other.  This will also be a large-scale test of a government’s ability to collect taxes more efficiently, considering China has the biggest economy on earth.

Moving forward, experts claim that we will all see more and more innovative uses of blockchain technology as its potential is more fully realized. Transparency and security are both absolute essentials in a digital age, and China appears to be recognizing that need and putting this powerful tech to use through policy, enforcing theft through taxation.  

But it’s unclear as of yet, just when China will begin using Blockchain to tax. Blockchain technology has been proposed for use in elections already due to its potential for both transparency and security. It’s these features that make it appealing for taxation as well.

Furthermore, we should also see implementation at the city level in China, as several local and provincial governments have recently promulgated pro-blockchain policies.

 

In fact, a smart cities initiative has already enticed a Chinese automaker to integrate the tech into its business model. Additionally, blockchain-based industrial parks have gone up in Chengdu, Hangzhou, and other major cities, and agencies at different levels of government have created blockchain R&D teams.

 

Futurism

Tax professionals in the United Kingdom have also discussed implementing Blockchain to ease the financial burden of collecting taxes from their peasants.

With the good, comes the bad.

Once governments begin using technology such as Blockchain, they will do it with efforts to steal productivity or funds or liberty from civilians.  Governments around the world (especially the United States) are losing support rapidly and as such, implementing stifling means of collecting taxes will almost certainly rile up the masses.

Comments

Manthong bshirley1968 Sun, 08/06/2017 - 23:11 Permalink

  Delusional… A Chinese or NK EMP nuke will change your mind pretty quick… ..and how many PV panels can my 2 pounds of sliver help pruduce.  ..and some of us have fuel transfer pumps and armaments to commandeer your gallon. and oh.. oh.. with no mains eleicricity available, do you know how long the low pressure NG supply will power the few BU generators on line? ..a long time... the NG pipes are themselves a very large reserve.  And.. and.. I keep several hundred feet of 12 ga. extension cords in case I want to keep my neighbors refrigerators or furnace blowers running. They might willingly share some gasoline with me.   

In reply to by bshirley1968

Jay Sun, 08/06/2017 - 20:21 Permalink

Blockchains are useful database networks when you want everybody to have access to a database but don't want anybody to change the records. Not seeing how this would be useful for taxes where the data typically is private. Blockchain technology would be extremely useful for voting. Ballots would be next to impossible to forge. Nobody could double-vote and everybody could see votes, including their own,  tallied in real time. It would make elections much more transparent and honest.

tmosley Sun, 08/06/2017 - 20:48 Permalink

>Using the blockchain to collect taxesI really don't see how that is supposed to work. As the peanut gallery has demonstrated, you can't force anyone to adopt cryptos nor the blockchain.Why on Earth would anyone sign up for a crypto that is specifically meant to tax them (ie steal their money)? Ridiculous.

bshirley1968 tmosley Sun, 08/06/2017 - 21:58 Permalink

Because they have no choice?  Duh?For someone who touts himself as being on the cutting edge and scoffs at those who are not BC worshipers,  you struggle connecting obvious dots.  Once the NWO implements block chain into their system, there will be no competition,  no choice, no freedom. You try to go around their system and they will confiscate everything you have and lock you out of society or in prison.  In reality prisons won't be necessary because the world will be one giant prison.

In reply to by tmosley

Sudden Debt Sun, 08/06/2017 - 20:55 Permalink

these blockchains won't have a speculative nature which makes it totally unattractive to the Chinese. But if they would use blockchain to conduct international trade that would be a massive plus but would also put multiple banks out of business.

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Sid Davis Sun, 08/06/2017 - 22:12 Permalink

Invent a technology, and thugs will find a use for it to commit their acts of aggression. Government might be slow to figure things out, but they will sooner or later use what technology is available to implement their tyranny.

I imagine that the move toward a cashless society is an effort to enforce taxation, and to create a paper (electronic) trail of data for government to use against people. But for every effort of government to plunder and control, there will be efforts by people to avoid the plunder and control. The US is probably better at implementing technology for its tyranny, but China surely is close behind.

I can't imagine blockchain being effective for tax collection unless government is in charge of the blocks and controls the digital transaction medium. Avoid government money.

Alananda Sun, 08/06/2017 - 22:23 Permalink

You heard it here on truthy -- except when not -- ZH first.  Sort of like Gordon Duff on VT -- 60% true, 40% fake (to protect sources), thus confusing everyone NOT IN THE KNOW.BLOCKCHAIN & TAXES -- hell, after microchipping every human body, computerizing every interaction among human bodies, what's to doubt??

Fartboxbuffet (not verified) Sun, 08/06/2017 - 23:34 Permalink

Kinda a catchy block chain hmmm like a chain around your neck with a block on it total control beast system you think them central bankers were on these sites bickering lol or watching the news about the circus of politics no thats to keep the serfs distracted they were behind the scene s with belzebub planning to take total control and its almost here remember those sneaky bankers own everything and hire the most cunning minds money can buy if people dont wake up critical think and become one its over all these sites are zion sites gathering people together get them on a carrot chase while nothing is ever done 

Slippery Slope Mon, 08/07/2017 - 00:43 Permalink

This will make taxation of the Plebs easier. If the Oligarchs can still get away with paying no taxes, I'm against it as a taxation system.

Instead, they should tax all financial securities that leave the United States. Then the rich will be forced to pay taxes when they try to hide their assets.