Xiamen Haimai Technology Applies for a Blockchain Patent for Handling Bidding Irregularities, Enhancing Public Trust

Xiamen Haimai Technology Applies for a Blockchain Patent for Handling Bidding Irregularities, Enhancing Public TrustOn December 26, 2024, the State Intellectual Property Office of China revealed that Xiamen Haimai Technology Co., Ltd

Xiamen Haimai Technology Applies for a Blockchain Patent for Handling Bidding Irregularities, Enhancing Public Trust

On December 26, 2024, the State Intellectual Property Office of China revealed that Xiamen Haimai Technology Co., Ltd. had applied for a patent titled "Method, Electronic Device, and Server for Handling Bidding Irregularities Using Blockchain," with publication number CN119180701A and application date August 2024. This patent aims to leverage blockchain technology to address irregularities in the bidding process, effectively reducing risks associated with manual intervention, preventing data tampering, and avoiding negative impacts on other projects, ultimately enhancing the credibility of the bidding process.

The patent abstract details the technology's working principle and process. The core of this method lies in storing crucial bidding data on a blockchain network, ensuring data transparency, immutability, and traceability. Specifically, the method comprises the following steps: first, the electronic device receives a bid sealing request and determines the sealing data based on the request; then, the system determines the data that needs to be recorded as evidence based on the sealing data and sends this data to the blockchain server for evidence storage, simultaneously locking the sealing data to prevent any unauthorized modifications; finally, after successful evidence storage, the blockchain server sends an evidence confirmation message to the electronic device, confirming that the data has been securely stored on the blockchain.

This technology effectively addresses numerous problems potentially encountered in traditional bidding processes. Traditional bidding methods, relying on manual operations, are vulnerable to information leakage, data tampering, and manipulation. These risks not only affect the fairness and impartiality of bidding but also cause significant economic losses and societal impacts. The introduction of blockchain technology effectively mitigates these risks.

Blockchain, as a decentralized distributed ledger technology, possesses high security and transparency. All transaction data is recorded on the blockchain, preventing any single party from unilaterally modifying or deleting data. This means that once bidding data is recorded on the blockchain, it becomes immutable, ensuring transparency and traceability.

Furthermore, blockchain technology improves bidding efficiency. Since all data is stored on the blockchain, all parties can query data in real-time, reducing information asymmetry and communication costs, thereby accelerating the bidding process.

The innovation of this patent lies in its application of blockchain technology specifically to handle bidding irregularities, addressing anomalies that may arise during the process. This differs from previous approaches that simply used blockchain for bidding, offering greater targeting and practicality. Previous solutions primarily focused on data security and transparency, neglecting the handling of exceptions. This patent combines both aspects, creating a more comprehensive bidding management system.

Specifically, this patented technology offers significant advantages in the following areas:

First, it effectively prevents risks associated with manual operation. In traditional bidding, manual operation is a primary cause of irregularities. This technology, by storing data on the blockchain, avoids human intervention, effectively reducing these risks.

Second, it effectively prevents data tampering. The immutability of blockchain technology ensures the integrity and accuracy of bidding data, preventing tampering.

Third, it effectively prevents the impact on other bidding processes. In traditional bidding, irregularities in one project can affect others. This technology, by storing each project's data separately on the blockchain, avoids interference and ensures the smooth progress of other projects.

Finally, it enhances the credibility of handling exceptional events. Because all data is stored on the blockchain, anyone can access it, increasing transparency and credibility in handling exceptions.

In conclusion, Xiamen Haimai Technology's patent application for "Method, Electronic Device, and Server for Handling Bidding Irregularities Using Blockchain" is an innovative and practical technology. By leveraging the immutability and transparency of blockchain technology, it effectively addresses numerous issues in traditional bidding processes, improving efficiency and credibility and providing a strong guarantee for a fairer, more just, and transparent bidding environment. The successful application of this technology will be crucial for promoting the healthy development of the bidding industry. This patent signals the direction of technological innovation in the bidding field and provides new ideas for optimizing future bidding processes. As technology continues to develop and improve, blockchain will undoubtedly play an increasingly important role in bidding. Xiamen Haimai Technology's patent application sets a positive example for the industry and provides valuable guidance and reference for other companies.