Etendering-System-using-Blockchain

Harsh Phartiyal*
Periodicity:January - June'2025

Abstract

Blockchain technology is set to revolutionize e-tendering by enhancing security, transparency, and cost-effectiveness. Traditional tendering methods, often reliant on paper-based processes or centralized digital systems, are prone to fraud, fake documentation, lack of transparency, and bureaucratic delays. Blockchain-based e-tendering addresses these challenges by eliminating intermediaries, reducing corruption, and fostering trust in the bidding process. By leveraging Distributed Ledger Technology (DLT) and smart contracts, blockchain ensures that all transactions are immutably recorded, tamper-proof, and verifiable. This technology mitigates risks associated with data manipulation, unauthorized alterations, and biased decision-making. Automated procurement through smart contracts streamlines workflows, minimizes manual intervention, reduces operational costs, and expedites decision-making. This research explores the fundamentals, benefits, and challenges of blockchain applications in e- tendering, analysing various consensus mechanisms, cryptographic security models, and interoperability issues. By utilizing blockchain- powered e-tendering solutions, organizations can cut costs, minimize fraudulent risks, and ensure a transparent and fair bidding process. The study serves as a foundation for future research on innovative procurement models driven by blockchain and provides insights for government agencies, enterprises, and technology innovators seeking to modernize their procurement systems

Keywords

Blockchain, E-Tendering, Distributed Ledger Technology, Procurement Automation, Decentralization, Corruption Mitigation, Digital Transformation.

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