Asian Development Bank released a report on scope for blockchain in e-governance. As of now, sixty seven countries are members of ADB. e-Government Procurement Systems(e-GP) refers to business-to-government purchase sale of anything from goods services to data exchange. According to ADB’s report, e-GP has been operational for close to 2 decades now. But, there are only 200-250 e-GP installations worldwide. ADP says blockchain is the way forward to make its presence 100% which meets the end goal of developing global e-government. ADB’s document reads:
“Though the implementation of e-GP systems has contributed to enhanced efficiency and transparency in Government Procurement, there is potential for further advancement of the existing systems.” Blockchain technology has the capacity to improve factors that affect efficiency of e-GP such as maintaining online repository of work experience certificates, real-time view of contracts pending, de-duplicated supplier database.
The key principles underlying the Global e-GP Architecture using Blockchain is to near zero transactions costs, build on existing e-GP systems, incentivize de facto adoption standards and open network with minimal entry barriers. An overview of all key components of the e-GP Blockchain network is provided below. Researchers expect the ecosystem to become less fragmented and advocate blockchain usage on a global scale. The researchers further added:
“In a decade or so, it is expected that in excess of 80% of Government procurement transactions will be processed online in a couple of hundred e-GP systems spread across the World.The e-GP Blockchain network should be extended to enable Banks located anywhere in the World to seamlessly submit authenticated Electronic Performance Bank Guarantees on behalf of a Supplier in any of the networked e-GP systems.”
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