To create a safe digital asset management system and an audit platform for Chinese public accounting companies, CAFA (China Accounting & Finance Association) will use the VeChain blockchain. In addition to lowering the danger of fraud and other security issues, this will offer auditing businesses more accurate and efficient services.
About China’s Blockchain Adoption
The partnership between VeChain and CAFA will also support blockchain education in China, providing an incentive for China to adopt blockchain. The collaboration will revolutionize the field of accounting, teaching businesses to manage their finances more securely.
In addition, training events will organize, and resources and technical support will provide for public accounting firms in China. Thus, China will be able to start integrating blockchain into everyday human life. As a result, this makes it easier for Chinese companies to participate in the international market.
About VeChain and CAFA Collaboration
After the launch of CAFA, VeChain has impressed many enterprises with ToolChain‘s user-friendly system. In addition, China Accounting & Finance Association is looking for applications that it can integrate into its platform with the support of ToolChain. This will shorten the accounting process and, as a result, decrease the need for manual labor.
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