Mexico is developing a blockchain based bidding system

The government of Mexico has been quietly working on a project to track bids for public contracts using blockchain, a government official revealed Tuesday.

The system was initially developed by a team of university graduates whose design won a contest calling for blockchain solutions that can help improve public services.

“With blockchain applied to public contracts we’ll be able to know whether a company that provides services to the government is trustworthy,” Mexico’s national digital strategy coordinator Yolanda Martinez tweeted.

Martinez said the technology would eliminate the “easily corruptible” human element and introduce transparency to the public tender process. Martinez also pointed out that the blockchain would store records of the bidding process, allowing for audits after the fact.


Write: Sara Bauer


 

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