BlockTender: A Trustworthy System

Abstract

The tendering process is a critical component in the procurement practices of governments and companies worldwide. However, this process often encounters challenges that undermine its efficiency, transparency, and security. Traditional tendering methods are plagued by issues such as complex documentation, lack of transparency, susceptibility to corruption, and significant security vulnerabilities. To address these challenges, our project introduces a novel approach that integrates blockchain technology into the tendering process. This integration aims to revolutionize the way tenders are issued, managed, and awarded by leveraging the strengths of blockchain, such as decentralization, immutability, and advanced cryptographic security. Our system comprises three main modules—Admin, Tender Officer, and Bidder—each designed to streamline the respective functionalities within the tendering cycle. By utilizing smart contracts for process automation and cryptographic hash functions (SHA-256) for data integrity, the proposed system not only enhances the security and transparency of the tendering process but also significantly reduces the risks of corruption and breaches. The adoption of blockchain technology in tendering processes marks a significant leap forward in procurement practices, offering a more secure, efficient, and transparent method for conducting transactions.