A Tender Management System Using Blockchain and IPFS

Ensuring that businesses and government agencies acquire goods and services effectively depends on competent tender management. Inadequate record-keeping, contractor favoritism, and security vulnerabilities are just a few of the problems that can arise from bad bid and contract management procedures. Encryption and blockchain technology are used to solve these problems and reduce related risks. Blockchain, a decentralized ledger system, offers an impenetrable means of capturing transactions, while encryption converts private data into unintelligible code that can only be accessed with a decryption key. Through the use of these cutting-edge technology improves the integrity, security, and transparency throughout the procurement process. This strategy encourages a more dependable and accountable procurement system while simultaneously protecting sensitive data.