Blockchain-Based Secured Architecture for E-tendering and Bidding System
摘要
Traditional tendering and bidding processes for building and other projects face many problems like inefficiency, lack of transparency, and chances for corruption. These problems include bid rigging, favoritism, kickbacks, long delays, unequal information between parties, and inconsistent procedures. Blockchain technology, with its secure, decentralized, and unchangeable features, offers a good solution to these issues. In this chapter, we introduce a public blockchain-based web application that uses smart contracts to automate and improve the entire tendering process, from advertising to bid submission, review, and award. The system provides a single, reliable source of information for all authorized participants, ensuring data security, process integrity, and transparency. Smart contracts define the rules, requirements, and evaluation criteria, making the process clear and reducing the chance of manipulation. Bidders can submit encrypted bids with mechanisms to prevent collusion. We present the system’s design along with simulations showing how the blockchain-based e-tendering solution is better than traditional methods. The results show that it can help make the tendering process faster, cheaper, and more ethical across different industries using this new technology.