xBid - blockchain-based auction platform

• Main Author: Lee, Peter Jia De
• Other Authors: Anwitaman Datta
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Computer science and engineering::Software::Software engineering
• Online Access: https://hdl.handle.net/10356/165999
• Institution: Nanyang Technological University

This final year project aims to develop xBid, a proof-of-concept blockchain-based auction system with a focus on peer-to-peer usage. The system will utilise the security and transparency of blockchain technology, providing a reliable and secure platform for users to transact via smart contracts. xBid features an auction platform for users to list and place bids on products, providing users with the opportunity to maximise their profits while acting as a hub for products to be listed on multiple platforms reducing logistical overhead of maintain availability. In addition, the system will provide aftersales service that leverage the power of decentralised voting to settle disputes between buyers and sellers. The project's main goal is to demonstrate how blockchain technology can create an efficient online auction system that meets the needs of the community. Additionally, the project will discuss various concerns and challenges such as sustainability of the system and privacy.