E-Tendering Using Blockchain
Snehal Bhogan, TJPRC · International journal of computer science engineering and information technology research · 2019
The process of tendering, even if it is paper based, it raises several legal issues.The main concept of tendering is to befair and transparent and requires trust between both the tenderer and bidder.The use of electronic medium in tendering raises the need for not onlylegal issues but also the security threats that come up when moving to an open network environment.A block chain is a growing list of record, called blocks, which are linked using cryptography.Block chain techniques maintain transparency of data on all its peer on the network.In the current system of e-Tendering: The tendering organization with developer level access can see the tender whenever they want, they can read bids before the deadline of tendering process, and it takes lot of time to complete the procurement action.In our project using block chain we are making the e-Tendering process secure in the following manner.