Abstract:
Agriculture, healthcare, financial services, and even the government are using blockchain. Still, the tendering sector is unprepared to profit from blockchain technology. Tender management mistakes can result in substantial losses. Favoring contractors, poor record maintenance, lack of transparency, hacking, data tampering, and other concerns are examples.
Tender management difficulties are solved using blockchain technology to provide security and efficiency. Security is assured by encryption and block-based architecture in the transaction management blockchain.
To maintain a transparent bidding process, we use blockchain technology to secure transaction-based documents such tender documents, applications, bid proposals, firm profiles, prior records, approving officer details, and rejection details.
Managing all tenders, applications, firm profiles, documentation, and tender approval and rejection are administrative tasks. The company is eligible for open bids.
After reading the tender and tendering specifications, the bidder submits a bid proposal and then a bid. Any corporate or admin-level data alterations, such as tender, post-application, approval status, etc., will be caught as tampering.
After submission, no revisions are allowed and the evaluation is pushed to the blockchain. On the tender closing date, the tendering organization will execute the evaluation code and determine the best bid.
Note: Please discuss with our team before submitting this abstract to the college. This Abstract or Synopsis varies based on student project requirements.
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