Mexico Calls for Bids on Blockchain
Main page News, Blockchain

Already this month, Mexican government will host the first state tender on the basis of the Ethereum blockchain. It also plans to use the distributed ledger technology for running the public procurement process. It is expected that blockchain can make public purchases more transparent. The object of the tender will be known when the model of decentralized network management is presented.

The system will be tested using a case of the tender, which will be developed on several smart contracts:

  • The first smart contract is to register a state agency that intends to purchase the product or enter into a service contract.
  • The second smart contract registers suppliers who want to participate in the bidding.
  • The third contract checks the reputation of the supplier in accordance with the information registered in the network.
  • The fourth smart contract lets to store important information about the contractor.
  • The fifth smart contract assesses the technical requirements of the applications registered for bidding and chooses the winning project.

The network will provide an opportunity to monitor the fulfillment of the prerequisites, but the authenticity of the initial information still raises questions. However, with the involvement of more participants and the introduction of rigorous procedures for tracking authenticity of the input data, the trust in the network can increase.

WHY IS IT IMPORTANT?

1. A new blockchain-solution should advance the quality of public services. The state will use the technology of a distributed register to find out whether reliable companies deserve the services provided to the state.

2. Blockchain will as well add transparency to the public bidding process. The technology will store the information about the bidding process, allowing post-factum to conduct its thorough audit.

Read also:

Хотите узнать больше о гражданстве за инвестиции? Оставьте свой адрес, и мы пришлем вам подробный гайд

Please describe the error
Close
Close
Thank you for registration
Like us on Facebook to help us make even more interesting materials for free.