In traditional approach tenders related to various procurement of products and services are advertised on newspapers, internet and other media and interested bidding organizations prepares a bid and submits it to the tendering organization physically. The current system lacks transparency related to tendering process. An electronic environment presents obvious opportunities for collousion between authorities and certain tenderers, fraud by tenderers and attempt of intruders to illegally access the system. Using blockchain we can secure the tendering process in the following manner:
• Tendering organization cannot change the tender once it is based on blockchain. • The tendering organization cannot read the bid until a deadline is expired. • The bidders cannot see or change the bids of other organizations.
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