ADAPTABILITY OF BLOCKCHAIN-BASED E-PROCUREMENT SYSTEM

E-procurement and Blockchain are relatively new technologies that have the potential to provide a variety of benefits due to their unique features such as transparency, decentralized approach, immutability, and consensus. Procurement plays a major role in construction projects as it is the basis of any transaction. E-Procurement is one of the recent technologies used by modern businesses to save time, money, and effort. A mixed research approach was adopted including a questionnaire survey and semi-structured interview. The data collected from the questionnaire survey were analyzed using Relative Important Index(RII) and Gap analysis. The survey found that there is a gap between the desirability and readiness for Blockchain adoption. In addition, important drivers and barriers to the adoption have been identified. As a result, from an organizational and governmental perspective, measures must be designed and implemented to overcome barriers and enhance readiness levels, so closing the gap between desirability and readiness. Finally strategies for improving the readiness of Blockchain-based E-Procurement practices were identified.