Mexico Will Apply Blockchain in Tracking Public Works

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

In a bid to combat rampant corruption in the country, the Mexican government is working on a pilot technology based on the blockchain (used for cryptocurrencies ) so that public tenders are carried out digitally, openly and transparently , said the Strategy coordinator. Digital National of the Presidency, Yolanda Martínez. He announced this in a blockchain conference in Jalisco, Mexico. The name of the project is “Blockchain HACKMX”. Blockchain HACKMX is a program supported by the United Nations. A PDF of their proposal can be found here.

He noted that the project has been work in progress since September 2017.

As the news website Debate reports, from an electronic platform, companies can register in the system and once a public tender is open they can enter their proposals. The intelligent contracting system validates the proposals and sends them to the evaluators via email to verify that they meet the necessary criteria. In the end, the system selects the proposal that generates the greatest social benefit to grant the bid.

This process eliminates the human part, which is easily corrupted, Raúl Cruz said. Raúl Cruz is one of the people working on the proposal. He adds that no official will access the information, in addition to the fact that the evaluators have no contact with each other or with the companies.

But public and transparent bids aren’t the only feature of HACKMX. As stated a while ago, it also provides for tracking projects, and promotes citizen participation. “Anyone can evaluate the project or work that has been tendered in the system, which generates “reputation” for the company that carried out the project, which can be contracted on several occasions”, Martinez said.

Hopefully this Blockchain technology also be implemented in the Philippines, to minimize corruption and to make transactions of the project transparent.



Related Post

An avid cypto supporter, law school student, Certified Public Accountant, and a professional HODLer