Blockchain will subvert the corporate system, tax collection and management will meet the challenge

The Microfinance Fifty People Forum recently held its year-end meeting in Beijing. At the meeting, Wang Binsheng, a special professor of the Graduate School of the Chinese Academy of Social Sciences, Mr. Chu Zhuang, the director of the Information Center of the former CSRC, and Zhang Haihui, the co-founder of the forum, expressed their views and discussed the future of the blockchain industry.

In what form the blockchain will eventually be presented, Professor Wang Binsheng describes an ideal social form built on the blockchain. He believes that blockchain is the value of the Internet, the next generation of the Internet format, any information and data transmitted on top of it is a value stream, in many scenarios, blockchain and Token (token) is actually In one, any behavior will be completed in the transaction.

In the future society in the eyes of Wang Binsheng, there is no form of corporate and traditional taxation. He explained that the company is the product of modern industrialization of mankind, which separates production, finance and consumption. In the future, the blockchain will maximize social efficiency, which will subvert the corporate system. Once there is no company, there is no tax in the traditional sense, and the borders of the country will become blurred. The specific form of future taxation will not be taxed from value added and income, but from the transaction process. On the macro level, the road to industrialization of human society has taken a curve from a historical perspective.

In June 2017, the China Tax News published a paper saying that the blockchain will bring severe challenges and significant impacts to traditional tax collection and management. The Department of Taxation and Science and Technology Development of the State Administration of Taxation has established a research team to conduct specialized research on blockchain technology in a combination of technology and business. As early as 2016, the British government issued a report calling on all government departments to better perform government functions by using blockchain distributed ledger technology to improve service efficiency.

Wang Binsheng said that 2018 is the global first year of blockchain globalization, ICO will gradually fade out hot topics, and a large number of blockchain applications will gradually fall.