Auctioning Using Blockchain Advantage Analysis

Mulhem Naser Baki

The paper reviews the various benefits of blockchain on auctioning. Blockchain is probably the most thrilling technological innovation after the Internet. The use of blockchain on auctions has been relatively recent. However, its positive influences on auctioning cannot be understated. The literatures on blockchain in the field of technology were extensively retrieved and carefully studied through Google search on the internet in order to identify various advantages of blockchain on auctioning. In the first sections of the text, the author describes auctioning; and the traditional auction was looked into. Additionally, the text progresses by exploring the benefits of blockchain; the three categories of blockchain; how the blockchain works in auctions and related works on the study. It is hoped that this study will inform auctioneers and the industries at large of the incredible benefits and solutions blockchain proffers to the world of auctioning.