Use digital currency to purchase financial and tax services, Linmengbao and Yihoufang work together to promote the upgrade of blockchain applications

In September 2016, LoMoCoin (LMC) and Yihouban reached a cooperation intention, and users can use digital currency (LMC) to directly purchase financial and tax services in the future. The cooperation between digital currency LMC and Yihouban not only promoted the compliance of LoMoCoin and its blockchain assets, but also set a precedent for the compliance of the entire blockchain and digital currency industry.

LoMoCoin is the world's first blockchain digital currency system based on geographic information (LBS) and mobile Internet ecology. It is also the first mobile APP application that combines the needs of real offline merchants to attract traffic, players participating in game entertainment, and blockchain digital currency. Its built-in digital currency LMC has real value. It can not only be directly exchanged for RMB, but also can be used to directly purchase financial and tax services from Yi Backend.

Yihouban is an innovative third-party accounting service provider and a leading financial and tax service provider in China. Its financial and tax consultant network has covered eight hot entrepreneurial cities across the country, and has established a sustained and stable cooperative relationship with many well-known entrepreneurial platforms, venture capital institutions and maker spaces, providing accounting services with high service experience for thousands of entrepreneurial companies. In May 2016, Yihouban received a Pre-A round of financing of tens of millions led by Sinovation Ventures.

At the same time, Yihou also established the first digital currency finance and tax research center in China to conduct in-depth research on the accounting treatment and tax arrangements of digital currencies. Yao Ning, CEO of Yihou, said:

"There are not many cases to follow in global practical operations for accounting and tax treatment of digital currency. When a company holds digital currency and makes a profit from transactions, the accounting and tax treatment of the entire process is actually still in the process of exploration. It is related to the specific design and transaction model of digital currency. There is no standard system yet. Our first task is to keep paying attention, and the second is to do more technical discussions. Some technical discussions involved in business development and exchanges will also be published in real time. We hope to combine academic discussions with practical operations and provide some references for the field of digital currency."

As the first cooperative institution of Yihouban in the field of digital currency, LoMoCoin (LMC for short) can not only enjoy the overall financial and tax service solutions provided by it, but also use its own digital currency LMC to purchase its financial and tax services. In addition, Yihouban also accepts partners certified by LoMoCoin to use LMC to purchase its financial and tax services. Yao Ning said: "This cooperation is also an opportunity. We hope to cooperate with more digital currency platforms and institutions in the future."