Procurement System Using Blockchain

Abstract

This paper is about an integrated platform based on blockchain technology to serve the purpose of a procurement system that involves the following stakeholders-vendor Industry/Customer Delivery executive. This is a web application- based solution for a modern and secure procurement system that could replace the conventional systems. It involves various blockchain frameworks and works on smart contracts. A public framework named “Ethereum” is used to implement the functioning of this procurement system. Transactions are made based on smart contracts via wallets. Blockchain is one of the highly reliable technologies that ensures security authenticity integrity and reliability. Since all the processes during the procurement is taken care by blockchain there is no need for a third party or a payment gateway. This proves to be advantageous. This solution involves cutting edge technology like Blockchain and frameworks like “Ethereum” “Metamask” “Truffle” “Ganache” to make the current system smarter and effective.