Blockchain Technology: Potential Applications for Public Sector E-Procurement and Project Management

Project implementations normally fail due to sustainable development problems that inhibit the usage levels required to facilitate successful implementations. This paper explores the successful implementation from a Bangladesh perspective. In particular, it identifies the possible applications of Blockchain in project procurement and management, and it develops a guideline for incorporating Blockchain into project management to improve the existing project and the procurement management practices in developing countries. This is a qualitative study with an interpretivist research methodology. By adopting an interpretive approach, this study construes knowledge as that only gained through social constructions, such as language, shared meanings, documents, industry reports, reviews of academic papers, and tools; it is a changing and relative phenomenon. This study reveals that developing countries are suffering in terms of the development of projects, including poor project management, a lack of transparency, poor procurement management, etc. A total of 38 issues were identified through this study, which are the main barriers to the successful implementation of public sector projects. One of the main reasons is due to the practice of awarding the lowest bidder during the procurement process due to the current regulatory requirements. This paper found that the Oracle platform, built on Blockchain technology as a cloud-computing platform, is one of the prominent E-procurement platforms that provides both the Blockchain platform and the cloud-based applications. Therefore, after observing and analysing the platform, it is found that Blockchain technology has the capability to resolve 25 issues out of 38 identified issues.