Innovation Name:

Tenders-2.0 - An Ethereum DApp

Theme:

Innovate for the Society

Stage of Innovation:

We have a working prototype

Member/s:

Siddhesh Rane, Pranamya Jain, Siddhesh Gangan, Yash Jain

College:

Veermata Jijabai Technological Institute (VJTI)

City:

Mumbai

Challenge:

There is a lack of transparency in the existing road tendering process. This has led to a lot of corruption in the assigning of contracts to agencies.

Solution:

A blockchain-based platform that will help make the tendering process transparent by making the records public. Agencies can bid for tenders on the platform as well as compare and verify them. Once the tenders have been approved, the final payment system for the contract will also be a blockchain-based payment that will ensure no records have been tampered with and defect liability clauses in the contract are implemented properly.

Impact:

A blockchain-based platform will help increase the transparency of the tendering process, thus reducing corruption. It will also help create a decentralized database, which users can log into using only their wallet address, leading to more encryption and security.