DESC:TECHNICAL FIELD
[001] The present disclosure relates to a method and a system for providing a bidding platform, and more particularly, to method and system for providing the bidding platform based on blockchain technology to record trade and post trade information.

BACKGROUND
[002] Online bidding follows a similar basic format as a normal tender process. The operator develops specifications for the item or service. The potential vendors are evaluated and pre-qualified. The operator issues its tender documents, which include a comprehensive set of bid rules. The technical and commercial terms are submitted by the qualified bidders and are evaluated by the operator as would usually be done. Then the bidding begins. Once the bidding concludes, the approval process follows. The bid results are sent to the tender board and partners for approval. Following this, the contract is awarded.
[003] The online auctions/bidding bring customers/buyers/bidders from around the world to a seller and mitigate geographical barriers that would previously have stood in the way of an enterprising salesman. However, these online auctions typically require a third-party to act as an intermediary between the buyer and the seller to facilitate and maintain an integrity of a transaction. As a result, online platforms mostly rely on human interactions for data integrity, security, transparency, and traceability with potential bidders having to trust an auction organizer with ensuring that bids are legitimate, and transactions properly settled.
[004] Hence, there is a need in the art, to provide a bidding platform that uses the blockchain technology for enabling smooth and fair execution of a bidding process while mitigating serious concerns arising out of the auctions being performed manually.

OBJECTS OF THE PRESENT DISCLOSURE
[005] It is an object of the present disclosure to provide a bidding platform where an entity that taps into a resource is accountable for fair practices in terms of distributing a resource to different buyers.
[006] It is an object of the present disclosure to provide an effective utilization of the blockchain based system to record both trade and post-trade information.
[007] It is an object of the present disclosure to provide the blockchain based system where valid buyers can securely register and perform bidding.
[008] It is an object of the present disclosure to provide the blockchain based system where smart contracts can execute a bidding algorithm on the bidding platform.
[009] It is an object of the present disclosure to provide the blockchain based system where outcomes at different stages of the bidding process can be recorded on a blockchain ledger to show fairness in processing of bids across buyers.
[0010] It is an object of the present disclosure to provide the blockchain based system where post-trade confirmations are also recorded on the blockchain.
[0011] It is an object of the present disclosure to provide the blockchain platform where buyers registration will be performed so that fraudulent users are denied participation in a bidding event.
[0012] It is an object of the present disclosure to provide the blockchain based system where seller will be allowed to create events such as pre-qualification, live bidding etc.
[0013] It is an object of the present disclosure to provide the blockchain based system where no manual intervention from a user is allowed, as all the allocation would be decided by smarts contracts.
[0014] It is an object of the present disclosure to provide the blockchain based system that is completely transparent and has a trusted environment.

SUMMARY
[0015] This section is provided to introduce certain objects and aspects of the present disclosure in a simplified form that are further described below in the detailed description. This summary is not intended to identify the key features or the scope of the claimed subject matter.
[0016] In an aspect, the present disclosure provides for a system for automated management of bids generated by a plurality of first users. The system may include one or more ledgers operatively coupled to a bidding platform associated with an entity, a first user device associated with each first user and a second user device associated with each second user. The system may further include a smart contract comprising one or more processors coupled to the one or more ledgers and the bidding platform. The one or more processors may be further coupled with a memory that may store instructions which when executed by the one or more processors that causes the system to: receive, a set of data packets from any or a combination of the first user device, one or more bidder nodes associated with the bidding platform, the set of data packets pertaining to a plurality of bids provided by the plurality of first users and then extract, a first set of attributes from the set of data packets received, the set of attributes pertaining to one or more bidding parameters provided by the one or more second users. The system may further execute, the set of data packets through a plurality of stages based on the first set of attributes extracted and a predefined set of instructions and then determine, an outcome at each stage based on the set of data packets processed. The system may further record, the outcome of each stage in the one or more ledgers.
[0017] In an embodiment, the system may be configured to obtain a registration data, by a bidding module, based on a request from an unregistered first user and an unregistered second user through respective first and second computing device. In an embodiment, login credentials may be generated based on acknowledgement of the request and verification of the registration data. A first user and a second user may enter the generated login credentials to access the system to obtain a bidding service associated with the first user and the second user. In an embodiment, the bidding module may be operatively coupled to the one or more processors.
[0018] In an embodiment, the system may be further configured to provide, by the bidding module an access control so that the plurality of first users do not see each other’s bids.
[0019] In an embodiment, the system may be configured to create, by an admin module operatively coupled to the one or more processors, one or more tokens for the first user and the second user, authenticate, by the admin module, the one or more tokens created.
[0020] In an embodiment, the system may be configured to create, by the admin module, one or more nodes to interact with the system, wherein the one or more nodes pertain to tenants, networks, policies and ledger entities, update, by the admin module, the one or more nodes, configure, by the admin module, access permission to the one or more nodes, and configure, by the admin module, access control for the first and second users associated with the one or more nodes.
[0021] In an embodiment, the system may be configured to configure, by the admin module, one or more parameters prior to each bidding, view, by the admin module, a list of first users registered; and, view, by the admin module, a list of bids applied by each first user.
[0022] In an embodiment, the system may be configured to: record, by the admin module, an audit trail on the system; and generate, by the admin module, a report based on the audit trail, and Bid History.
[0023] In an embodiment, the system may be further configured to record one or more post-trade confirmations associated with the plurality of bids in the ledger.
[0024] In an embodiment, the system may be further configured to provide a seller module operatively coupled to the one or more processors, using which a second user may create one or more events associated with the bidding process.
[0025] In an embodiment, the system may be further configured to: enable, by an auditing module operatively coupled to the one or more processors, the ledger to be immutable to provide trust and transparency and further share and distribute the one or more ledgers to the one or more nodes.
[0026] In an embodiment, the system may be further configured to enable, by a regulating module, one or more transactions processed by the system to a execute the Bid Process Management Logic.
[0027] In an aspect, the present disclosure provides for a method for automated management of bids generated by a plurality of first users, the method comprising the step of receiving, by one or more processors, a set of data packets from any or a combination of the first user device, one or more bidder nodes associated with a bidding platform, the set of data packets pertaining to a plurality of bids provided by the plurality of first users. The one or more processors may be coupled to a smart contract, the smart contract comprising one or more ledgers operatively coupled to the bidding platform. The one or more processors may be further coupled with a memory that stores instructions which are executed by the one or more processors. The method may further include the steps of extracting, by the one or more processors, a first set of attributes from the set of data packets received, said set of attributes pertaining to one or more bidding parameters provided by the one or more second users and executing, by the one or more processors, the set of data packets through a plurality of stages based on the first set of attributes extracted and a predefined set of instructions. The method may further include the steps of determining, by the one or more processors, an outcome at each stage based on the set of data packets processed; and, recording, by the one or more processors, the outcome of each said stage in the one or more ledgers.

BRIEF DESCRIPTION OF THE DRAWINGS
[0028] In the figures, similar components and/or features may have the same reference label. Further, various components of the same type may be distinguished by following the reference label with a second label that distinguishes among the similar components. If only the first reference label is used in the specification, the description is applicable to any one of the similar components having the same first reference label irrespective of the second reference label.
[0029] The diagrams are for illustration only, which thus is not a limitation of the present disclosure, and wherein:
[0030] FIG. 1A illustrates an exemplary architecture (100) of a blockchain based system (102) for bidding, in accordance with an embodiment of the present disclosure.
[0031] FIG. 1B illustrates the exemplary blockchain based system (102) for bidding, in accordance with an embodiment of the present disclosure.
[0032] FIG. 2 illustrates an exemplary representation of the blockchain based system (102) for bidding, in accordance with an embodiment of the present disclosure. FIG. 3 illustrates an exemplary representation (300) of a bidding parameters submission, in accordance with an embodiment of the present disclosure.
[0033] FIG. 4 illustrates an exemplary representation (400) of a bidding approval and initiation, in accordance with an embodiment of the present disclosure.
[0034] FIG. 5 illustrates an exemplary representation (500) of a first bid submission, in accordance with an embodiment of the present disclosure.
[0035] FIG. 6 illustrates an exemplary representation (600) of a revised bid submission, in accordance with an embodiment of the present disclosure.
[0036] FIG. 7 illustrates an exemplary representation (700) of a provisional GSPA quantity during a first bid submission, in accordance with an embodiment of the present disclosure.
[0037] FIG. 8 illustrates an exemplary representation (800) of a provisional GSPA quantity during a revised bid submission, in accordance with an embodiment of the present disclosure.
[0038] FIG. 9 illustrates an exemplary representation (900) of a GSPA quantity, in accordance with an embodiment of the present disclosure.
[0039] FIG. 10 illustrates an exemplary representation (1000) of a bidding paused, in accordance with an embodiment of the present disclosure.
[0040] FIG. 11 illustrates an exemplary representation (1100) of a bidding extended, in accordance with an embodiment of the present disclosure.
[0041] FIG. 12 illustrates an exemplary representation (1200) of a bidding closed, in accordance with an embodiment of the present disclosure.
[0042] FIG. 13 illustrates an exemplary representation (1300) of a bidding agreement initiation, in accordance with an embodiment of the present disclosure.
[0043] FIG. 14 illustrates an exemplary representation (1400) of a bidding agreement signing, in accordance with an embodiment of the present disclosure.
[0044] FIG. 15 illustrates an exemplary computer system (1500) in which or with which embodiments of the present invention can be utilized in accordance with embodiments of the present disclosure.

DETAILED DESCRIPTION
[0045] The following is a detailed description of embodiments of the disclosure depicted in the accompanying drawings. The embodiments are in such detail as to clearly communicate the disclosure. However, the amount of detail offered is not intended to limit the anticipated variations of embodiments; on the contrary, the intention is to cover all modifications, equivalents, and alternatives falling within the spirit and scope of the present disclosure as defined by the appended claims.
[0046] The present disclosure relates to a method and a system for providing a bidding platform, and more particularly, to method and system for providing the bidding platform based on blockchain technology to record trade and post trade information.
[0047] The present disclosure allows buyers to register themselves from respective buyers node. An access control may be enabled on the bidding platform so that buyers cannot monitor bids from other buyers. Meanwhile all the bids are registered on a blockchain based system and processed fairly. The sellers may add dynamic events that the buyers may act upon. Further, transactions may be processed by agreed upon smart contracts to execute bid process management logic. No intervention from the seller is done during the bidding process. Further, a blockchain ledger may record transactions and version of the smart contract logic used to produce the transactions. The ledger may be shared and distributed to all stakeholder nodes. Further, regulators and auditors may have a transparent access to actions taken on the bidding platform.
[0048] FIG. 1A illustrates an exemplary network architecture in which or with which the system of the present disclosure can be implemented, in accordance with an embodiment of the present disclosure. As illustrated, in an aspect, a blockchain bidding system (102) (also referred to as the system (102) hereinafter) associated with an entity (115). The system (102) may be associated with a plurality of first computing devices (103-1, 103-2...103-N) (collectively referred to as first computing devices (103) or first user devices (103) and individually as first computing device (103) or first user device (103) through a network (109). The first computing devices (103) may be associated with a plurality of first users (101-1, 101-2, … 101-N). The system (102) may be further associated with a plurality of second computing devices (107-1, 107-2...107-N) (collectively referred to as second computing devices (107) or second user devices (107) and individually as second computing device (107) or second user device (107) through the network (109). The second computing devices (103) may be associated with a plurality of second users (101-1, 101-2, … 101-N). In a way of example and not as a limitation, the first (103) and the second computing devices (107) may be further communicatively coupled to at least a centralized server (113) through the network (109). More specifically, the exemplary architecture (100) includes one or more ledgers (111) associated with the system (102) for facilitating processing of bids for blockchain transactions. A third user (117) may be associated with the entity (115) to manage and configure the system (102).
[0049] For example, the first users (101) may include buyers, bidders and the like and the second users may include sellers, vendors, retailers, suppliers, traders, stockers and the like. The entity (115) may include any business organisation, banking organisations, trading organisations, government organisations, finance organisations, university funding centres and the like.
[0050] In an embodiment, the system (102) may be configured to receive, a set of data packets from any or a combination of the first user device (103), one or more bidder nodes (106) associated with the bidding platform, the set of data packets pertaining to a plurality of bids provided by the plurality of first users (101) and then extract, a first set of attributes from the set of data packets received, the set of attributes pertaining to one or more bidding parameters provided by the one or more second users (105). The system (102) may further execute, the set of data packets through a plurality of stages based on the first set of attributes extracted and a predefined set of instructions. The predefined set of instructions may be a bidding algorithm but not limited to it. The system (102) may further determine, an outcome at each stage based on the set of data packets executed and, record, the outcome of each stage in the one or more ledgers (111).
[0051] FIG. 1B illustrates an exemplary architecture (100) of the system (102) for bidding, in accordance with an embodiment of the present disclosure. The one or more ledgers (111) may include an associated ledger (108) with a bidder/buyer node 106. The bidder/buyer node (106) may have multiple registered bidder/buyer front end applications (104-1, 104-2, 104-3, and so forth). The one or more ledgers (111) may also include another associated ledger with an auditor node (112). The auditor node (112) may have an associated auditor frontend application (110). Further, the blockchain based system (102) may be hosting a regulator node (118) having another associated ledger (120) of the one or more ledgers (111). The regulator node (118) may be participating using a regulator frontend application (116). Furthermore, a seller node (124) having an associated ledger (126) of the one or more ledgers (111) and hosted using a seller frontend application (122) may be participating on the bidding platform.
[0052] In an embodiment, the bidding platform may be built on using the blockchain based system (102). valid bidders/buyers node (106) may be securely registered on the blockchain platform. Further, smart contracts may execute a bidding algorithm on the blockchain platform. Additionally, outcomes at different stages of the bidding process may be recorded on a blockchain ledger to show fairness in processing of bids across the bidders/buyers node (106). Also, post-trade confirmations may be recorded on the blockchain platform.
[0053] In an embodiment, the regulator node (118) may be a government agency, and bidders/buyers node (106) may be participants on the blockchain based system (102) for the bidding platform. Registration of the bidders/buyers node (106) may be performed on the system (102) so that fraudulent users may not be allowed to participate in a bidding event. Further, the seller may be allowed to create events such as pre-qualification, live bidding etc. As may be appreciated, no manual intervention may be entertained from a user, as all the allocations may be decided by smarts contracts. The blockchain based system (102) may provide a complete transparent and trusted environment. In an embodiment, the bidders/buyers may be allowed to register themselves from the bidders/buyers node (106). All transactions related to bidders/buyers may be done via the bidders/buyers node (106). Access control may be enabled so that the bidders/buyers may not be able to see each other’s bids. However, all the bids may be registered on the blockchain platform and fairly processed. Further, the seller may be able to add the dynamic events that the bidders may act upon.
[0054] In an embodiment, transactions may be processed by agreed-upon (across stakeholders) smart contracts to execute the Bid Process Management Logic. There may be no intervention from the seller during the bidding process that is executed via smart contracts on the platform. In an embodiment, the ledger may be immutable and may provide trust and transparency. The blockchain ledger may record transactions and the version of the smart contract logic used to produce the transactions. The ledger may be shared and distributed to all stakeholder nodes.
[0055] In an embodiment, a Bidding Platform Admin (BPAM) Node 130 may be provided. The BPAM node 130 may have a corresponding associated BPAM frontend application 128. The BPAM frontend application may maintain a sharing ledger 132. The BPAM node 130 may be responsible for co-ordinating smooth conduct of the bidding process.
[0056] In an embodiment, the first computing device (103), the second computing device (107) and/or the blockchain bidding system (102) may communicate via set of executable instructions residing on any operating system, including but not limited to, Android TM, iOS TM, Kai OS TM and the like. In an embodiment, the first computing device (103), the second computing device (107) and/or the blockchain bidding system (102) may include, but not limited to, any electrical, electronic, electro-mechanical or an equipment or a combination of one or more of the above devices such as mobile phone, smartphone, virtual reality (VR) devices, augmented reality (AR) devices, laptop, a general-purpose computer, desktop, personal digital assistant, tablet computer, mainframe computer, or any other computing device, wherein the computing device may include one or more in-built or externally coupled accessories including, but not limited to, a visual aid device such as camera, audio aid, a microphone, a keyboard, input devices for receiving input from a user such as touch pad, touch enabled screen, electronic pen and the like. It may be appreciated that the first computing device (103), the second computing device (107) and/or the blockchain bidding system (102) may not be restricted to the mentioned devices and various other devices may be used. A smart computing device may be one of the appropriate systems for storing data and other private/sensitive information.
[0057] In an exemplary embodiment, a network (109) may include, by way of example but not limitation, at least a portion of one or more networks having one or more nodes that transmit, receive, forward, generate, buffer, store, route, switch, process, or a combination thereof, etc. one or more messages, packets, signals, waves, voltage or current levels, some combination thereof, or so forth. A network may include, by way of example but not limitation, one or more of: a wireless network, a wired network, an internet, an intranet, a public network, a private network, a packet-switched network, a circuit-switched network, an ad hoc network, an infrastructure network, a public-switched telephone network (PSTN), a cable network, a cellular network, a satellite network, a fiber optic network, some combination thereof.
[0058] In another exemplary embodiment, the centralized server (113) may include or comprise, by way of example but not limitation, one or more of: a stand-alone server, a server blade, a server rack, a bank of servers, a server farm, hardware supporting a part of a cloud service or system, a home server, hardware running a virtualized server, one or more processors executing code to function as a server, one or more machines performing server-side functionality as described herein, at least a portion of any of the above, some combination thereof.
[0059] FIG. 2 illustrates an exemplary representation of the blockchain based system (102) for bidding, in accordance with an embodiment of the present disclosure.
[0060] In an embodiment, and as shown in FIG. 2, the blockchain based system (102) may include one or more processors (202) coupled with a memory (204). The memory may store instructions which when executed by the one or more processors (202) causes the blockchain based system (102) to perform one or more functions.
[0061] The one or more processors (202) may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, logic circuitries, and/or any devices that manipulate data based on operational instructions. Among other capabilities, the one or more processor(s) (202) may be configured to fetch and execute computer-readable instructions stored in a memory (204) of the the blockchain based system (102). The memory (204) may store one or more computer-readable instructions or routines, which may be fetched and executed to create or share the data units over a network service. The memory (204) may comprise any non-transitory storage device including, for example, volatile memory such as RAM, or non-volatile memory such as EPROM, flash memory, and the like.
[0062] The blockchain based system (102) may also comprise an interface(s) (206). The interface(s) (206) may comprise a variety of interfaces, for example, interfaces for data input and output devices, referred to as I/O devices, storage devices, SCADA, Sensors and the like. The interface(s) (206) may facilitate communication of the blockchain based system (102) with various devices coupled to it. The interface(s) (206) may also provide a communication pathway for one or more components of the blockchain based system (102). Examples of such components include, but are not limited to, processing engine(s) (202) and database (230).
[0063] The one or more processors (202) may be implemented as a combination of hardware and programming (for example, programmable instructions) to implement one or more functionalities of the one or more processors (202). In examples described herein, such combinations of hardware and programming may be implemented in several different ways. For example, the programming for the one or more processors (202) may be processor executable instructions stored on a non-transitory machine-readable storage medium and the hardware for the one or more processors (202) may comprise a processing resource (for example, one or more processors), to execute such instructions. In the present examples, the machine-readable storage medium may store instructions that, when executed by the processing resource, implement the one or more processors (202). In such examples, the the blockchain based system (102) may comprise the machine-readable storage medium storing the instructions and the processing resource to execute the instructions, or the machine-readable storage medium may be separate but accessible to the blockchain based system (102) and the processing resource. In other examples, the one or more processors (202) may be implemented by electronic circuitry. In an aspect, the database (210) may comprise data that may be either stored or generated as a result of functionalities implemented by any of the components of the processor (202) or the processing engines (208).
[0064] In an exemplary embodiment, the processing engine(s) (208) of the the blockchain based system (102) may include an admin module (212) a bidding module (214), an auditing module (216), a regulating module (218), a selling module (220) and other engines (222), wherein the other engines (222) may further include, without limitation, data receiving engine, storage engine, computing engine, or signal generation engine. The blockchain based system (102) may be implemented using any or a combination of hardware components and software components.
[0065] In an implementation, the blockchain based system (102) may be accessed by applications residing on any operating system, including but not limited to, AndroidTM, iOSTM, and the like.
[0066] In an embodiment, the Admin module 212 may include high level functionalities such as authenticating created tokens by IAM for various nodes, creating all users needed to interact with blockchain (like Bidder, Bidding Admin and Process Manager (BAPM) Seller etc.), creating/Updating/Deleting Tenants, Networks, Policies and Ledger Entities, configuring access permissions on Bidding platform for Smart Contract, Networks, and Ledger Entities etc., configuring access controls/permissions for all the users (like Bidder, BAPM and Seller etc.), configuring parameters prior to each E-Bidding, viewing the list of bidders registered, viewing the list of bids applied by each bidder, recording system audit trail on the Blockchain, reporting generation for provisional GSPA Quantity, GSPA Quantity and Bid History.
[0067] In an embodiment, the bidding module (214), may enable bidders/buyers to register themselves from the bidders/buyers Node. All transactions related to bidders/buyers may be done via this node. An access control may be provided to the bidders/buyers so that the bidders/buyers may not be able to see each other’s bids. However, all bids shall be registered on the blockchain platform and fairly processed. Further, the bidders/buyers registration may be performed on the system so that fraudulent users would not be allowed to participate in a bidding event.
[0068] In an embodiment, the auditing module (216), may enable the blockchain ledger that is immutable to provide trust and transparency. The blockchain ledger may record transactions and the version of the smart contract logic used to produce the transactions. The ledger may be shared and distributed to all stakeholder nodes.
[0069] In an embodiment, the regulating module (218), may enable the transactions to be processed using agreed-upon (across stakeholders) smart contracts to execute the Bid Process Management Logic. There shall be no intervention from the seller during the bidding process that is executed via smart contracts on the platform.
[0070] In an embodiment, the selling module (220) may enable the seller to add the dynamic events that the bidders may act upon. The seller may be allowed to create events such as Pre-Qualification, Live Bidding, and so forth.
[0071] FIG. 3 illustrates an exemplary representation (300) of a bidding parameters submission, in accordance with an embodiment of the present disclosure. With reference to FIG. 3, a seller may fill a set of bidding parameters on a seller User Interface (UI) and may then click submit. Upon submission of the bidding parameters, the seller UI may send bidding parameters along with seller DSC to a BAPM node. The bidding parameters and the seller DSC may be stored locally at the BAPM node. The BAPM Node may send a notification to a BAPM UI to endorse the transaction. The BAPM UI may send an endorsed and signed transaction. Further, the BAPM Node may record bidding state and a bidding request may be submitted to a Bidding platform. The BAPM node may then record seller Digital Signature Certificate (DSC) with the Bidding platform. Thereafter, the Bidding platform may store a bidding state successfully and send a notification to the BAPM node. The BAPM node may send a notification that a bidding request is accepted, and a popup success message may be shared with the seller.
[0072] FIG. 4 illustrates an exemplary representation (400) of a bidding approval and initiation, in accordance with an embodiment of the present disclosure. With reference to FIG. 4, a BAPM UI may fetch bidding parameters from a BAPM node. The BAPM node may return bidding parameters as well as a hash value and decrypt the bidding parameters. Further, a BAPM may review the received BAPM parameters and then click on a submit. On submission of the bidding parameters, the BAPM UI may send a notification to the BAPM node about the bidding parameters and the hash value and attached BAPM DSC. In a next step, a current state may be fetched from the BAPM node by the Bidding platform. Further, the Bidding platform may return a current state to the BAPM node.
[0073] In an embodiment, an exchange of messages may be observed between the BAPM node and the ENTITY. At the BAPM node, when a state ==biddingParameterstSubmitted, then a message pertaining to “configure and start bidding” SC and pass parameters may be invoked. The ENTITY may process execution of the SC and parameters stored on-chain. Further, bidding state may be changed to biddingProcessApprovedAndStarted and a bid start time may be recorded. Subsequent to this, the BAPM Node may record BAPM DSC and send to the Bidding platform. Following to this, the ENTITY may send a notification containing bid start time to the BAPM Node. However, when a state is not equal to biddingParametersSubmitted, then the BAPM Node may send a bidding request not submitted message to the BAPM UI. Thereafter, Bidding platform may send a bid state along with bid start time as part of an event to the Bidding Node. Further, the BAPM UI may send a pop up with an error message to the BAPM. Finally, an event may be sent and notified to the Bidder UI from the Bidding Node.
[0074] FIG. 5 illustrates an exemplary representation (500) of a first bid submission, in accordance with an embodiment of the present disclosure. With reference to FIG. 5, a bidder may fill in bid details. The bid details may include a bid against price basis, volume and tenure. On providing the bid details, the bidder may click a submit button and submit his bid to Bidder UI. The Bidder UI may send bidding parameters accepted message to the Bidding Node along with a bidder DSC attached. Further, the Bidding Node may fetch a current state and send to the Bidding platform. The current state may be returned to the Bidding Node. When the Bidding Node has a state==biddingProcessApprovedAndStarted, then the Bidding Node may fetch bid start time and a first bid period and send to the Bidding platform. The Bidding platform may share the bid start time and first bid period with the Bidding Node. Upon receiving the bid start time, the Bidding Node may check if the first bid period is active.
[0075] In an embodiment, when the Bidding Node observes that the firstBidPeriodActive == True, then the Bidding Node may invoke “first bid” SC and pass bid parameters to the Bidding platform. The Bidding Node may record Bidder DSC and share with the Bidding platform. Further, the Bidding platform ensures that the SC is executed on the Bidding platform and bids may be stored on-chain. Further, at Bidding platform it is determined if status==BidisApproved, then the ENTITY may set the bidding state changed to firstBidApproved, else the bidding state may be changed to firstBidRejected at ENTITY.
[0076] Further, if the state is not equal to the biddingProcessApprovedAndStarted, the Bidding Node may send a bidding not started information to the Bidder UI. Following to this, the ENTITY may send a bid state as part of an event to the BAPM Node and the Bidder UI may send a pop up with an error message. At last, the BAPM Node may send an event to the BAPM UI.
[0077] FIG. 6 illustrates an exemplary representation (600) of a revised bid submission, in accordance with an embodiment of the present disclosure. With reference to FIG. 6, a bidder may fill in bid details. The bid details may include a bid against price basis, volume and tenure. On providing the bid details, the bidder may click a submit button and submit his bid to Bidder UI. The Bidder UI may send bidding parameters accepted message to the Bidding Node along with a bidder DSC attached. The Bidder UI may send bidding parameters accepted message to the Bidding Node along with a bidder DSC attached. Further, the Bidding Node may fetch a current state and send to the ENTITY. The current state may be returned to the Bidding Node.
[0078] When the Bidding Node has a state==firstBidApproved || provisionalGSPAQtyDetermined, then the Bidding Node may fetch bid start time and first bid period to the ENTITY. The ENTITY may share the bid start time and first bid period with the Bidding Node. Upon receiving the bid start time, the Bidding Node may check if the first bid period is active.
[0079] In an embodiment, when the Bidding Node observes that the firstBidPeriodActive == False, then the Bidding Node may invoke “Revised Bid” SC and pass bid parameters to the ENTITY. The Bidding Node may record Bidder DSC at the ENTITY. Further, the Bidding platform may ensure that the SC is executed on the ENTITY and bids may be stored on-chain. Further, at Bidding platform is determined if status==BidisApproved, then the ENTITY may set the bidding state changed to revisedBidApproved, else the bidding state may be changed to revisedBidRejected at the Bidding platform. Thereafter, a record bidder DSC may be sent by the Bidder Node to the Bidding platform.
[0080] Further, if the state is not equal to the firstBidApproved || provisionalGSPAQtyDetermined, the Bidding Node may send a first bid period is active information to the Bidder UI. Following to this, the ENTITY may send a bid state as part of an event to the BAPM Node and the Bidder UI may send a pop up with an error message. At last, the BAPM Node may send an event to the BAPM UI.
[0081] FIG. 7 illustrates an exemplary representation (700) of a provisional GSPA quantity during a first bid submission, in accordance with an embodiment of the present disclosure. With reference to FIG. 7, a first Bid SC Bidding platform may send bid details to a Revised Bid SC Bidding platform. The bid details may include bid against price basis, volume and tenure. The Revised Bid SC ENTITY may calculate a provisional GSPA quantity. The Revised Bid SC may send provisional GSPA quantity, highest bid against price basis and tenure recorded to a Revised Bid SC Bidding platform. Further, the Revised Bid SC Bidding platform may send an instruction to record following data to Bidding platform. Further, a record bidding state provisional GSPA quantity determined may be sent to the Bidding platform.
[0082] Following to this, the Bidding platform may send a bid state as part of an event along with highest bid against price basis to a Bidding Node. Thereafter, the Bidding Node may send an event to Bidder UI.
[0083] FIG. 8 illustrates an exemplary representation (800) of a provisional GSPA quantity during a revised bid submission, in accordance with an embodiment of the present disclosure. With reference to FIG. 8, a Revised Bid SC ENTITY may record bid details and calculate a provisional GSPA quantity. The Revised Bid SC Bidding platform may maintain provisional GSPA Quantity, Highest Bid against price basis and Tenure Recorded. The Revised Bid SC Bidding platform may record the above data at the Bidding platform. Further, the Revised Bid SC Bidding platform may record bidding state provisionalGSPAQtyDetermined and may send to the ENTITY.
[0084] Following to this, the Bidding platform may send a bid state as part of an event along with highest bid against price basis to a Bidding Node. Thereafter, the Bidding Node may send an event to Bidder UI.
[0085] FIG. 9 illustrates an exemplary representation (900) of a GSPA quantity, in accordance with an embodiment of the present disclosure.
[0086] In an embodiment, a BAPM may fill GSPA quantity and send to BAPM UI by clicking a submit button. The BAPM UI may send a GSPA Qty accepted message along with BAPM DSC attached to BAPM Node. Further, the BAPM Node may fetch a current state and send to the Bidding platform. The current state may be returned to the BAPM Node.
[0087] When the BAPM Node has a state==biddingClosed, then the BAPM Node may record bidding state as GSPAQtyDetermined and share with Bidding platform. The BAPM Node may record GSPA, bid against price and tenure information and share with the Bidding platform. Further, the BAPM Node may record BAPM DSC and share with the Bidding platform. However, if the BAPM Node has a state not equal to the biddingClosed, then the BAPM Node may notify the BAPM UI that the bidding is not closed yet. Further, the Bidding platform may send a bid state as part of an event to the Bidding Node and a bid state as part of an event to the BAPM Node.
[0088] Thereafter, the BAPM UI may send a popup message with an error message to the BAPM. The Bidding Node may send an event to the Bidder UI and the BAPM Node may send an event to the Seller UI.
[0089] FIG. 10 illustrates an exemplary representation (1000) of a bidding paused, in accordance with an embodiment of the present disclosure.
[0090] In an embodiment, a revised bid bidding platform source may fetch current state from the bidding platform and the bidding platform may return a current state. If state==provisionalGSPAQuantityDetermined&&time=true, then record bidding state may be paused by the revised bid bidding platform source. The bid state may be sent by the bidding platform to a BAPM node as part of event. The event may be then sent to the BAPM UI. The bid state may be also sent by the bidding platform to a bidder node as part of event. The bidder node then may send the event to the bidder UI.
[0091] FIG. 11 illustrates an exemplary representation (1100) of a bidding extended, in accordance with an embodiment of the present disclosure.
[0092] In an embodiment, a revised bid bidding platform source may fetch current state from the bidding platform and the bidding platform may return a current state. If state==bidding paused&&time=true, then record bidding state may be extended by the revised bid bidding platform source. The bid state may be sent by the bidding platform to a BAPM node as part of event. The event may be then sent to the BAPM UI. The bid state may be also sent by the bidding platform to a bidder node as part of event. The bidder node then may send the event to the bidder UI.
[0093] Further if, provisionalGSPAQuantityDetermined&&time=true, then record bidding state may be extended by the revised bid bidding platform source. The bid state may be sent by the bidding platform to a BAPM node as part of event. The event may be then sent to the BAPM UI. The bid state may be also sent by the bidding platform to a bidder node as part of event. The bidder node then may send the event to the bidder UI.
[0094] FIG. 12 illustrates an exemplary representation (1200) of a bidding closed, in accordance with an embodiment of the present disclosure.
[0095] In an embodiment, a revised bid bidding platform source for a first bid may send no valid first bid received message to the bidding platform. Record the bidding state as closed by the bidding platform source. The bid state may be sent by the bidding platform to a BAPM node as part of event. The event may be then sent to the BAPM UI. The bid state may be also sent by the bidding platform to a bidder node as part of event. The bidder node then may send the event to the bidder UI.
[0096] In another embodiment, the revised bid bidding platform source may fetch current state from the bidding platform and the bidding platform may return a current state. If state==provisionalGSPAQuantityDetermined, then the revised bid bidding platform source may check if bidding duration has expired. Further if, biddingExpired==true, then record biding state as expired by the revised bidding platform source and send the message to the bidding platform. The bid state may be sent by the bidding platform to a BAPM node as part of event. The event may be then sent to the BAPM UI. The bid state may be also sent by the bidding platform to a bidder node as part of event. The bidder node then may send the event to the bidder UI.
[0097] FIG. 13 illustrates an exemplary representation (1300) of a bidding agreement initiation, in accordance with an embodiment of the present disclosure.
[0098] In an embodiment, a seller may fill agreement details and send to Seller UI by clicking a submit button. The Seller UI may send the received agreement initiated along with Seller DSC attached, to a BAPM Node. Further, the BAPM Node may fetch a current state and send to the Bidding platform. The current state may be returned to the BAPM Node.
[0099] When at the BAPM Node it is determined that a current state==GSPAQtyDetermined, then the BAPM Node may send record agreement details to the Bidding platform. Further, the BAPM Node may send a record seller DSC to the Bidding platform. However, if the current state is not equal to the GSPAQtyDetermined then the GSPA Qty is not determined. Further, an “Agreement Recorded” event may be triggered by the Bidding platform and shared with the BAPM Node. Following to this, a pop up error message may be sent by the Seller UI to the Seller.
[00100] As may be noted, the BAPM Node may send a notification to endorse the transaction to the BAPM UI. The BAPM UI may send an endorsed and signed transaction to the BAPM Node. Further, the BAPM Node may send a record bidding state “biddingAgreementInititated” to the Bidding platform. The Bidding platform may further send a bid state as part of an event to BAPM UI.
[00101] FIG. 14 illustrates an exemplary representation (1400) of a bidding agreement signing, in accordance with an embodiment of the present disclosure.
[00102] In an embodiment, a bidder may check agreement details and send to Bidder UI by clicking a submit button. The Bidder UI may send the received signed agreement along with Bidder DSC attached, to a Bidding Node. Further, the Bidding Node may fetch a current state and send to the Bidding platform. The current state may be returned to the Bidding Node. At the Bidding Node a determination may be made related to whether a state==biddingAgreementInititaed. Following to this determination being true, a record signed agreement hash and a record Bidder DSC may be sent to the Bidding platform. Otherwise, an agreement not initiated message may be sent to the Bidder UI.
[00103] In an embodiment, a “Bidder Signature Recorded” event may be triggered by the Bidding platform and sent to the Bidding Node. Following to this a pop-up error message may be sent from the Bidder UI to the Bidder. Further, a notification may be sent to endorse the transaction from the Bidding Node to the BAPM UI. The BAPM UI may then send a transaction endorsed and signed message to the Bidding Node. Following to this, a bidding state biddingAgreement Signed may be recorded at the Bidding Node and may be sent to the Bidding platform. The Bidding platform may send the bid state as part of an event to a BAPM Node. The BAPM Node may send an event notification to a Seller UI.
[00104] FIG. 15 illustrates an exemplary computer system in which or with which embodiments of the present invention can be utilized in accordance with embodiments of the present disclosure. As shown in FIG. 15, computer system (1500) can include an external storage device (1510), a bus (1520), a main memory (1530), a read only memory (1540), a mass storage device (1570), communication port (1560), and a processor (1570). A person skilled in the art will appreciate that the computer system may include more than one processor and communication ports. Processor (1570) may include various modules associated with embodiments of the present invention. Communication port (1580 can be any of an RS-232 port for use with a modem based dialup connection, a 10/100 Ethernet port, a Gigabit or 10 Gigabit port using copper or fiber, a serial port, a parallel port, or other existing or future ports. Mass storage (1550) may be any current or future mass storage solution, which can be used to store information and/or instructions.
[00105] Bus (1520) communicatively couples processor(s) (1570) with the other memory, storage and communication blocks.
[00106] Optionally, operator and administrative interfaces, e.g. a display, keyboard, joystick and a cursor control device, may also be coupled to bus (1520) to support direct operator interaction with a computer system. Other operator and administrative interfaces can be provided through network connections connected through communication port (1560). Components described above are meant only to exemplify various possibilities. In no way should the aforementioned exemplary computer system limit the scope of the present disclosure.
[00107] While the foregoing describes various embodiments of the invention, other and further embodiments of the invention may be devised without departing from the basic scope thereof. The scope of the invention is determined by the claims that follow. The invention is not limited to the described embodiments, versions or examples, which are included to enable a person having ordinary skill in the art to make and use the invention when combined with information and knowledge available to the person having ordinary skill in the art.
[00108] A portion of the disclosure of this patent document contains material which is subject to intellectual property rights such as, but are not limited to, copyright, design, trademark, IC layout design, and/or trade dress protection, belonging to Jio Platforms Limited (JPL) or its affiliates (herein after referred as owner). The owner has no objection to the facsimile reproduction by anyone of the patent document or the patent disclosure, as it appears in the Patent and Trademark Office patent files or records, but otherwise reserves all rights whatsoever. All rights to such intellectual property are fully reserved by the owner.

ADVANTAGES OF THE PRESENT DISCLOSURE
[00109] The present disclosure provides a bidding platform where an entity that taps into a resource is accountable for fair practices in terms of distributing a resource to different buyers.
[00110] The present disclosure provides for an effective utilization of the blockchain based system to record both trade and post-trade information.
[00111] The present disclosure provides the blockchain based system where valid buyers can be securely register and perform bidding.
[00112] The present disclosure provides the blockchain based system where smart contracts can execute the bidding algorithm on the bidding platform.
[00113] The present disclosure provides the blockchain based system where outcomes at different stages of the bidding process can be recorded on a blockchain ledger to show fairness in processing of bids across buyers.
[00114] The present disclosure provides the blockchain based system where post-trade confirmations are also recorded on the blockchain.
[00115] The present disclosure provides the blockchain based system where buyers registration will be performed so that fraudulent users are denied participation in a bidding event.
[00116] The present disclosure provides the blockchain based system where seller will be allowed to create events such as pre-qualification, live bidding etc.
[00117] The present disclosure provides the blockchain based system where no manual intervention from a user is allowed, as all the allocation would be decided by smarts contracts.
[00118] The present disclosure provides the blockchain based system that is completely transparent and has a trusted environment.

,CLAIMS:1. A system (102) for automated management of bids generated by a plurality of first users (101), the system (102) comprising:
one or more ledgers (111) operatively coupled to a bidding platform associated with an entity (115), a first user device (103) associated with each first user (101) and a second user device (107) associated with each second user (105);
a smart contract comprising one or more processors (202) coupled to the one or more ledgers (111) and the bidding platform, wherein the one or more processors (202) are further coupled with a memory (204), wherein said memory (204) stores instructions which when executed by the one or more processors (202) causes the system (102) to:
receive, a set of data packets from any or a combination of the first user device (103), one or more bidder nodes (106) associated with the bidding platform, said set of data packets pertaining to a plurality of bids provided by the plurality of first users (101);
extract, a first set of attributes from the set of data packets received, said set of attributes pertaining to one or more bidding parameters provided by the one or more second users (105);
execute, the set of data packets through a plurality of stages based on the first set of attributes extracted and a predefined set of instructions;
determine, an outcome at each stage based on the set of data packets processed; and,
record, said outcome of each said stage in the one or more ledgers (111).

2. The system as claimed in claim 1, wherein the system (102) is configured to obtain a registration data, by a bidding module (214), based on a request from an unregistered first user and an unregistered second user through respective first and second computing device, wherein login credentials are generated based on acknowledgement of the request and verification of the registration data, wherein a first user (101) and a second user (105) enter the generated login credentials to access the system to obtain a bidding service associated with the first user (101) and the second user (105), wherein the bidding module (214) is operatively coupled to the one or more processors (202).

3. The system as claimed in claim 1, wherein the system (102) is further configured to
provide, by the bidding module (214), an access control so that the plurality of first users (101) do not see each other’s bids.

4. The system as claimed in claim 1, wherein the system (102) is configured to:
create, by an admin module 212, one or more tokens for the first user (101) and the second user (105), wherein the admin module (214) is operatively coupled to the one or more processors (202); and,
authenticate, by the admin module (212), the one or more tokens created.

5. The system as claimed in claim 3, wherein the system (102) is configured to:
create, by the admin module (212), one or more nodes to interact with the system, wherein the one or more nodes pertain to tenants, networks, policies and ledger entities;
update, by the admin module (212), the one or more nodes;
configure, by the admin module (212), access permission to the one or more nodes;
configure, by the admin module (212), access control for the first and second users associated with the one or more nodes.

6. The system as claimed in claim 3, wherein the system (102) is configured to:
configure, by the admin module (212), one or more parameters prior to each said bidding;
view, by admin module (212), a list of first users registered; and,
view, by the admin module (212), a list of bids applied by each first user.

7. The system as claimed in claim 3, wherein the system is configured to:
record, by the admin module (212), an audit trail on the system;
generate, by the admin module (212, a report based on the audit trail, and Bid History.

8. The system as claimed in claim 1, wherein the system is further configured to record one or more post-trade confirmations associated with the plurality of bids in the ledger.

9. The system as claimed in claim 1, wherein the system is further configured to provide a seller module (220), wherein a second user (105) creates one or more events associated with the bidding process, wherein the seller module (220) is operatively coupled to the one or more processors (202).

10. The system as claimed in claim 1, wherein the system is further configured to:
enable, by an auditing module (216), the ledger to be immutable to provide trust and transparency, wherein the auditing module (216) is operatively coupled to the one or more processors (202);
share and distribute, by the auditing module (216), the one or more ledgers (111) to the one or more nodes.

11. The system as claimed in claim 1, wherein the system is further configured to:
enable, by a regulating module (218), one or more transactions processed by the system to a execute the Bid Process Management Logic.

12. A user equipment (UE) for automated management of bids generated by a plurality of first users (101), the UE comprising:
one or more ledgers (111) operatively coupled to a bidding platform associated with an entity (115), a first user device (103) associated with each first user (101) and a second user device (107) associated with each second user (105);
a smart contract comprising one or more processors (202) coupled to the one or more ledgers (111) and the bidding platform, wherein the one or more processors (202) are further coupled with a memory (204), wherein said memory (204) stores instructions which when executed by the one or more processors (202) causes the UE to:
receive, a set of data packets from any or a combination of the first user device (103), one or more bidder nodes (106) associated with the bidding platform, said set of data packets pertaining to a plurality of bids provided by the plurality of first users (101);
extract, a first set of attributes from the set of data packets received, said set of attributes pertaining to one or more bidding parameters provided by the one or more second users (105);
execute, the set of data packets through a plurality of stages based on the first set of attributes extracted and a predefined set of instructions;
determine, an outcome at each stage based on the set of data packets processed; and,
record, said outcome of each said stage in the one or more ledgers (111).

13. A method for automated management of bids generated by a plurality of first users (101), the method comprising:
receiving, by one or more processors (202), a set of data packets from any or a combination of the first user device (103), one or more bidder nodes (106) associated with a bidding platform, said set of data packets pertaining to a plurality of bids provided by the plurality of first users (101), wherein the one or more processors (202) are coupled to a smart contract, the smart contract comprising one or more ledgers (111) operatively coupled to the bidding platform, wherein the one or more processors (202) are further coupled with a memory (204), wherein said memory (204) stores instructions which are executed by the one or more processors (202);
extracting, by the one or more processors (202), a first set of attributes from the set of data packets received, said set of attributes pertaining to one or more bidding parameters provided by the one or more second users (105);
executing, by the one or more processors (202), the set of data packets through a plurality of stages based on the first set of

attributes extracted and a predefined set of instructions;
determining, by the one or more processors (202), an outcome at each stage based on the set of data packets processed; and,
recording, by the one or more processors (202), said outcome of each said stage in the one or more ledgers (111).

14. The method as claimed in claim 13, wherein the method further comprises the step of:
obtaining a registration data, by a bidding module (214), based on a request from an unregistered first user and an unregistered second user through respective first and second computing device, wherein login credentials are generated based on acknowledgement of the request and verification of the registration data, wherein a first user (101) and a second user (105) enter the generated login credentials to access the system (102) to obtain a bidding service associated with the first user (101) and the second user (105), wherein the bidding module (214) is operatively coupled to the one or more processors (202).

15. The method as claimed in claim 14, wherein the method further comprises the step of:
providing, by the bidding module (214), an access control so that the plurality of first users (101) do not see each other’s bids.

16. The method as claimed in claim 15, wherein the method further comprises the step of:
creating, by an admin module 212, one or more tokens for the first user (101) and the second user (105), wherein the admin module (214) is operatively coupled to the one or more processors (202); and,
authenticating, by the admin module (212), the one or more tokens created.
17. The method as claimed in claim 16, wherein the method further comprises the step of:
creating, by the admin module (212), one or more nodes to interact with the system, wherein the one or more nodes pertain to tenants, networks, policies and ledger entities;
updating, by the admin module (212), the one or more nodes;
configuring, by the admin module (212), access permission to the one or more nodes;
configuring, by the admin module (212), access control for the first and second users associated with the one or more nodes.

18. The method as claimed in claim 17, wherein the method further comprises the step of:
configuring, by the admin module (212), one or more parameters prior to each said bidding;
viewing, by admin module (212), a list of first users registered; and,
viewing, by the admin module (212), a list of bids applied by each first user.

19. The method as claimed in claim 18, wherein the method further comprises the step of:
recording, by the admin module (212), an audit trail on the system;
generate, by the admin module (212, a report based on the audit trail, and Bid History.

20. The method as claimed in claim 19, wherein the method further comprises the step of:
recording one or more post-trade confirmations associated with the plurality of bids in the one or more ledgers (111).

21. The method as claimed in claim 13, wherein the method further comprises the step of:
providing, by a seller module (220), wherein a second user (105) creates one or more events associated with the bidding process, wherein the seller module (220) is operatively coupled to the one or more processors (202).

22. The method as claimed in claim 13, wherein the method further comprises the step of:
enabling, by an auditing module (216), the ledger to be immutable to provide trust and transparency, wherein the auditing module (216) is operatively coupled to the one or more processors (202);
sharing and distribute, by the auditing module (216), the ledger to the one or more nodes.

23. The method as claimed in claim 13, wherein the method further comprises the step of:
enabling, by a regulating module (218), one or more transactions processed by the system (102) to a execute the Bid Process Management Logic.