Design of Blockchain Based Smart Contract for Tendering

Abstract

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.