Chinese blockchain startup Hyperchain Technologies has raised 1.5 billion CNY ($234M USD) in a Series B funding round. Xinhu Zhongbao led the round with a total of 1.23 billion CNY ($192M USD) investment. The round also saw the participation of SDIC Gaoxin Industrial Investment Corp.,
Chinese media and technology giant Tencent has partnered with the Shenzhen National Taxation Bureau to combat tax fraud using blockchain technology.
Tencent will work with the taxation department to establish an “Intelligent Tax” innovation laboratory focused on promoting technological innovation around taxation processes.