Where Public Procurement meets Blockchain


The first blockchain-complete public procurement platform is now live!

The Ethereum-powered procurement platform is built to keep the middlemen out, to make sure the best bidder finds the best dealer, ensure that public data is truly public and common citizen's money isn't fiddled with. We are on our mission to free Europe of the ocean of corruption in public procurements.


problems

Traditional systems are at their worst

Procurement deals are ridden with corruption, delays and inefficiency.

problems

Bidding process is corrupted by middlemen,
Collusions are formed to reduce competition,
Papers are kept secret to damage transparency


Incidents such as the recent children deaths
at BRD Hospital in Gorakhpur highlight
endemic failure of procurement management

e-Procurement systems are better

But only when the database is transparent and immutable.

problems

Why Blockchain

Solving Corruption

Corruption is a trust problem plagued by collusion.Using an immutable public ledger as a rock-bed for all transactional evidence forces transparency onto officials and contractors, exponentially speeding up audits by third parties like journalists & government watchdog groups.

Solving Incentives

Bidders must be encouraged to bid in self-interest, but must not be allowed to form risk-reducing cartels. We address these using a reputation system where each bid proposal is weighted by the reputation points of the bidder. This way we can incentivise quality compliance for long-term contracts.

Solving Enforcement

Using smart contracts, we can automate the monetary penalties and make enforcement of regulation instant and independent of the state. This also solves the problem of middlemen meddling into state affairs by lobbying or organised crime, since now the smart contract holds the payment and will automatically release the funds once the tender is proved to be complete.



So, this public immutable ledger makes the concept of bidder collusion more prohibitive and enforces transparency into how bids are made to a tender making sure of the privacy; disincentivise negative behaviour like bid-rigging and forming cartels; using smart contracts, we can automate the monetary penalties and make enforcement of regulation instant and independent of the state.

What people are saying


A Problem-Solution fit

Bid Rigging






Centralized bid-evaluation process





Delayed Contract payouts




Slow procurement process




MDB Magazine Template displayed on iPhone
Reputation System incentivises individual selfish behaviour over collusion




Automated and Transparent bid-evaluation




Smart contract regulated payouts




Proven faster process





Core features preserved, Integrity and Usability enhanced

Wide compatibility

With most popular browsers from Chrome, Firefox, Safari, Brave supporting MetaMask, compatibility isn't a hurdle any longer.

Massively scalable

With Ethereum as the global network for computation and transaction processing, there are no more servers overloading and failing.

Autonomous transactions

With smart contracts governing transactions, justice to tenders is embedded immutably into the code.

Essentials without clutter

With clearly indicative UI, tender opportunities are not slipped away from the deserving.

Immutability

A transaction / bid / bill once confirmed is embedded into the blockchain and goes deeper every unit of time.

User-friendly

Where there is transparency, there is clarity.

Decentralized

Government and public bodies are auditors of themselves.

Responsive

Coded using Bootstrap, which ensures the code is responsive across devices, and is well-presentable.


Our blockchain journey so far

Block #: 001

Idea Formulation

Market Analysis, Impact Calculation

Current systems, pitfalls and scopes

April 2018 - April 2018


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"Genesis Block"

Block #: 002

Prototype Development

Challenge areas, Target Markets

Working product frontend

April 2018 - May 2018


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Block #: 003

Pilot and Testing

Product development, MVP tests, A/B tests

Viable product with working functionality

June 2018 - August 2018


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Block #: 004

Launch and Promotion

Improving consumer experience, handling failures

October 2018 - December 2018


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