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Design of Blockchain Based Smart Contract for Tendering
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Information technology is the backbone for all 21st century organizations that are looking forward to offer better customer service and gain competitive advantage. Today, blockchain technology is being adopted by a number of organizations such as financial services, healthcare, agriculture and even government. . However, the tendering sector have not been able to take advantage of the new blockchain technology, owing to the absence of blockchain based frameworks and a model for secure tendering. This study focuses on block-chain with its BYOE (Bring Your Own Encryption) concept in the procurement sector. The research comes up with a design of a blockchain based smart contract model for organizations in Kenya following ASD approach. In addition a discussion of challenges and opportunities of Blockchain based tendering is also presented.
Association of Technology and Science
Title: Design of Blockchain Based Smart Contract for Tendering
Description:
Information technology is the backbone for all 21st century organizations that are looking forward to offer better customer service and gain competitive advantage.
Today, blockchain technology is being adopted by a number of organizations such as financial services, healthcare, agriculture and even government.
.
However, the tendering sector have not been able to take advantage of the new blockchain technology, owing to the absence of blockchain based frameworks and a model for secure tendering.
This study focuses on block-chain with its BYOE (Bring Your Own Encryption) concept in the procurement sector.
The research comes up with a design of a blockchain based smart contract model for organizations in Kenya following ASD approach.
In addition a discussion of challenges and opportunities of Blockchain based tendering is also presented.
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