Imam Abdulrahman Bin Faisal University (20240412281). BIDDING SYSTEM AND METHOD BASED ON BLOCKCHAIN TECHNOLOGY

BIDDING SYSTEM AND METHOD BASED ON BLOCKCHAIN TECHNOLOGY

Organization Name

Imam Abdulrahman Bin Faisal University

Inventor(s)

Fahd Abdulsalam Alhaidari of Dammam (SA)

Malak Saleh Aljabri of Dammam (SA)

Lama Abdullah Alaqeel of Dammam (SA)

Razan Mohammed Khormy of Dammam (SA)

Salma Abdulrahman Bader of Dammam (SA)

Shahad Mohammed Tayeb of Dammam (SA)

Zahra Abdultawab Al Kubaish of Dammam (SA)

BIDDING SYSTEM AND METHOD BASED ON BLOCKCHAIN TECHNOLOGY

This abstract first appeared for US patent application 20240412281 titled 'BIDDING SYSTEM AND METHOD BASED ON BLOCKCHAIN TECHNOLOGY

Original Abstract Submitted

a computer-based bidding system, computer readable medium and method is provided for bidding on a project or service. a first client creates a project specification. second clients bid on the project. a second client encrypts bid information immediately after creating a bid information file, calculates a first hash value for the bid information file, and submits the first hash value for linking as a block in a blockchain. a blockchain system performs a second encryption upon receiving the encrypted bid information, calculates a second hash value for the encrypted bid file, and submits the second hash value for linking as a block in the blockchain. the second client performs a third encryption when the bid information file is opened to generate an encrypted opened bid information file. the second client performs a bidding process with the first client using the bid information file.