Conception of Applying Sovereign Blockchain Technology to Improve Tax Credit Management in Guangdong Province, China

Presently, several problems still exist in tax credit management including inadequate collection of credit information, opaque process of credit rating evaluation and adjustment, insufficient pertinence of credit publicity results, and low social application degree of credit evaluation results. The application of blockchain technology can perfectly match the needs of information management because it has several advantages such as decentralization, openness and transparency, non-tampering and traceability, and intelligent contract mechanism. Therefore, the technology can be used to achieve the flow of information data assets and privacy protection, and has good applicability to solve the problems faced in the current tax credit management process. This paper aims at solving the existing problems in tax credit management based on the analysis of the characteristics of the blockchain technology and the compliance of tax credit management using Guangdong Province as an example. The paper suggests the specific idea of applying the sovereign blockchain technology to improve the level of tax credit management.