Open AccessBlockchain technology as a panacea for procurement corruption in digital era
Author(s) -
Oyebanjo Ogunlela,
Ojugbele Olabode,
T. Brailsford Robertson
Publication year - 2021
Publication title -
international journal of research in business and social science
Language(s) - English
Resource type - Journals
ISSN - 2147-4478
DOI - 10.20525/ijrbs.v10i4.1222
Subject(s) - blockchain , procurement , panacea (medicine) , transparency (behavior) , digitization , language change , public sector , accountability , business , public administration , public relations , computer security , political science , engineering , marketing , law , computer science , telecommunications , medicine , art , alternative medicine , literature , pathology
Corruption in public institutions is a significant problem that stifles economic, social and environmental development worldwide. This predominates when there is a lack of transparency, inadequate record-keeping, and low public accountability. Accordingly, the questions this paper intends to provide answers to are two-fold. Firstly, what are the recurring patterns of procurement corruption in the South Africa (SA) public sector? Secondly, how can digital technology deployment assist in checking this trend? The desktop method was adopted through literature examination of studies relating to corruption, procurement, blockchain and digitization. We conclude by proposing a model/framework for adopting and using blockchain technology in public institutions to minimise corruption and the time taken for contract document preparation and acceptance. This study contributed to knowledge by evaluating the issues associated with public procurement and how blockchain and digitization can be adopted to help stern the tide of corruption in public institutions.