Blockchain-Based E-Procurement System Enhancing Data Security Within Ethereum Smart Contracts

Abstract

The rapid adoption of blockchain technology in e-procurement systems has revolutionized digital transactions, offering transparency, immutability, and decentralized control. However, despite these advantages, smart contract vulnerabilities pose significant security risks, potentially undermining the integrity of procurement processes. This paper explores the development of a blockchain-based e-procurement system designed to enhance data security while mitigating smart contract vulnerabilities. By integrating advanced cryptographic techniques, formal verification methods, and secure coding practices, the proposed system aims to strengthen transactional security and ensure trust in procurement operations. The study further outlines real scenario test cases designed to evaluate the functionality, security, and reliability of the smart contracts and system components within the Ethereum based procurement model. Our findings suggest that a well-architected blockchain-based e-procurement framework can significantly enhance data security and improve overall trust in digital procurement ecosystems.