Blockchain-powered auction framework for optimizing medical procurement
Loading...
Date
2023-10-12
Authors
Σπηλιωτόπουλος, Κανέλλος-Νικόλαος
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The rapid emergence of blockchain technology as a revolutionary concept in recent years, transformed various industries and redefined how we store, manage, and verify digital information. Traditional procurement methods in the medical industry often suffer from inefficiencies, lack of transparency, and high administrative costs. To address these challenges, this study proposes the integration of blockchain technology with auction mechanisms.
The study employs a decentralized approach, utilizing blockchain's inherent features such as immutability, transparency, and security. Smart contracts are employed to automate and execute auction processes, ensuring tamper-proof record-keeping and reducing the need for intermediaries. Medical suppliers can participate in auctions, submitting bids for supplying various medical products and services. Key benefits of the proposed concept include efficiency, transparency, fairness, traceability, cost savings and improved data security.
Description
Keywords
Blockchain, Smart contracts, e-Health, Auctions, Solidity