As we explained in our previous articles, implementing a real-time reporting system has the potential to reduce VAT fraud without the need to collect a large amount of data. By opting for a system where data privacy is at the heart of the concerns, companies would still need to transmit their billing data. However, rather than collecting and storing their data in “plain text”, that is to say readable, in a centralized system, permanently accessible by authorized personnel to carry out checks, it is possible to carry out their own checks based on encrypted data. This is one of the major advantages of opting for a confidential real-time reporting system: data encryption. Indeed, instead of storing the data as such, an encrypted digital footprint of the invoice can be generated using a “hash function”. Thus, this article is an introduction to hash functions for those interested in VAT issues. In the following development, we will look at hash functions applied to existing solutions. Next, we will look at the extent of best practices for hash functions. Finally, we will see how its functions are applicable to real-time reporting systems. we will look at the hash functions applied to existing solutions. Next, we will look at the extent of best practices for hash functions. Finally, we will see how its functions are applicable to real-time reporting systems. we will look at hash functions applied to existing solutions. Next, we will look at the extent of best practices for hash functions. Finally, we will see how its functions are applicable to real-time reporting systems.
Source: summitto.com
