Overview
Corruption in public procurement is a global phenomenon that has immense financial and reputational implications. Especially in developing countries, corruption is a widespread problem due to secrecy and lack of transparency. An important tool to ensure transparency and accountability is record-keeping, which is managed and controlled by archiving systems. Blockchain technology and blockchain-based smart contracts are tools that can mitigate fraud related to public procurement as archiving and settlement systems. Immutability, transparency, distribution and automation are some of the features of smart contracts that have already been implemented in several applications to prevent malicious interference. The project investigates specific use cases, barriers to acceptance and usability as well as existing interfaces in procurement. Furthermore, it evaluates possible blockchain protocols.
