Open Technologies for Public Tendering. Blockchain Technology Impact on Transparency and Efficiency of Public Procurement Processes

Abstract

Although public procurement accounts for a substantial share of the GDP and is recognised as a relevant aspect in public administrations, it is not always conducted efficiently and transparently. In this regard, the evaluation of these aspects in public procurement processes is essential and it is mainly focused on the analysis of both competition and financial and administrative efficiency (cost and time savings) of these processes. The implementation of emerging technologies promises to ensure transparency and access to public tenders, increasing competition, simplifying processes for contract award and management, driving time and cost savings. Considering the lack of a strong empirical grounding of the impact of emerging technologies on these aspects, this research addresses this research gap by aiming to analyse the transparency, in terms of competition, and the efficiency, in terms of cost and time savings, of public procurement processes performed under Blockchain technology (BCT) based platforms. Findings reveal a great impact of BCT based platforms especially on cost and time savings, deriving avenues for future research.