A new paper authored by World Bank Group-linked experts proposes development of a blockchain network to boost efficiency across government procurement systems worldwide.
Authored by Dr. Ramanathan Somasundaram and S. M. Quamrul Hasan, both researchers specializing in government procurement, the consultation report was published Thursday, touting blockchain tech in a technological proposal for the Asian Development Bank.
Currently, there are between 200 and 250 different e-government procurement (e-GP) systems installed around the world, the authors say. While these systems have potential to enhance government transparency, the siloed nature of the systems hinders their further advancement.
Providing detailed technical explanations, the authors propose the development of a blockchain system which can be deployed across worldwide governments’ systems, with each participating as network nodes to access supplier databases in different jurisdictions.