Abstract
Abstract: A new technology that offers efficiency, security, and transparency in the tendering process is the blockchain based etendering system. The technique is intended to do away with the conventional paper-based tendering procedure, lessen corruption, and provide all bids an equal chance to win. This system makes use of distributed ledger technology, which guarantees safe, unchangeable, and open transactions. The system enables users to track and confirm the validity of tender documents, bids, and other pertinent data. The blockchain based e-tendering system also provides important advantages like cost savings, greater effectiveness, and shortened time to market. The main advantages and features of the blockchain based etendering system are discussed in this paper, along with how it is implemented and the difficulties that must be overcome before it can be successfully used.
Published Version
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