Analysis of Block Chain based E-Procurement System –A Novel Approach

Authors:

Priya N,Ponnavaikko M,Rex Aantonny,

DOI NO:

https://doi.org/10.26782/jmcms.spl.2019.08.00018

Keywords:

E-Procurement,cryptography,security,block chain,consensus,hyper ledger composer.,

Abstract

In recent years everything is digitalized in the world. E-procurement is one of the services used by the government in business sectors. Security is the main aspect of this e-procurement method. In existing systems, various cryptographic mechanisms are used. Recently block chain made a tremendous change in business and economic activities. blockchain is a distributed ledger that stores the transactions in a secure and immutable way. In this paper Blockchain mechanism is introduced in the proposed system for a secure E-Procurement system. Hyper ledger composer supporting e-procurement framework is designed. Few consensus algorithms in blockchainare discussed to support the blockchain method.

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