The Economic Advantages of Blockchain Technology in E-Procurement

This article aims to review economic advantages of the one most modern cutting edge technologies, namely blockchain for eProcurement. As eProcurement (including its part – Supply chain) is a concept consisting plenty different processes, therefore specific per such major processes are explained. Assumptions and pre-conditions Blockchain application Article‘s main conclusion that due characteristics technology (safety, transparency, reliability, speed cost efficiency) payment settlement products‘ shipping tracking/inventory management eProcurement‘s phases could benefit from this most, among others (such as analysis requirements‘ gathering, sourcing/vendors‘ selection contract cycle).