Blockchain RFP is a blockchain system for Public and Private sector Request for Proposals. The system provides transparency and integrity throughout the whole process, guaranteeing inviolability of the information.
This technology allows event tracking and inviolability of the information, providing higher security standards and data integrity.
The system seeks to provide governments and privately-owned companies developing RFPs, with a tool to better manage information.
Citizens benefit: by utilizing our system, citizens can easily access online, all information related to RFPs. This will make the entire process much more democratic and participative.
Current bid processes
Globally, Governments are implementing improvements and incorporating new technologies to the RFP processes. Despite this, in many countries the process remains highly inefficient. This creates additional costs to the governments, reduces the levels of interest to participate and limits citizens access to information.
The current process -closed, archaic and centralized- uses hardcopies of the documentation, creating a lack of transparency that can lead to:
Misuse of public funds
Anticompetitive practices
Corruption: the estimated cost of corruption is 3% of the Latin-Americans GDP
Common flaws of the current process:
Manipulation of the biddings process. Favouritism when selecting the bidding winner.
Illegal and anticompetitive handling of bidding information and documentation
Blockchain RFP standard process for RFPs
Benefits
Call for Proposal
RFP Blockchain
Bidders Presentation
Easy application
Simple information management
Safe data storage
Selection of Bidder Winner
High levels of control
More transparency
Helps to reduce corruption levels
Provides public with easy access to information
Improvements in decision making process
Further advantages of our system
Using Blockchain RFP means implementing the newest technology in the market.
Possibility to customize the implementation of the system to the users’ needs.
The use of Blockchain RFP will help governments in their crusade against corruption and the improvement of RFP processes.
Democratization of the information due to real time access to project details (deadlines, payments, bidders) by citizens.
Using Blockchain RFP benefits governments by enhancing their image in the eye of the bidding companies and the public. Fighting corruption and allowing citizens to control where the funds are invested. Creating a win-win scenario.