Public procurement in a "21st century"-way: how new technologies may change public spending?

According to EU statistics governments and other public authorities are spending about 16% of the GDP through public procurement contracts. This way the regulation of the public procurement process highly effects the business environment, and can work as a catalysis for sustainable, eco-friendly and financially rational supply. This system is however a static one: stability is a main principle of this area. The digital age however shows a mirror of the obstacles: while getting things and services is becoming easier every day, winning in a public procurement is getting harder and slower. This is unsustainable: the States and the Governments should be the first ones to use new technologies for optimizing the public spending for everyone’s benefit. The paper examines how the blockchain technology could be used in the public procurement system – possibly internationally.