Royal Bank of Canada
Bid platform

Abstract:

A bid platform for electronic commerce uses smart contracts and a distributed ledger to manage bids and offers for products. The bid platform receives a bid for a product, generates a bid event on a distributed ledger using the smart contracts, propagates the bid event to merchants using the smart contracts and the distributed ledger, receives one or more offers, generates one or more offer events on the distributed ledger using the smart contracts, propagates the one or more offer events using the smart contracts and the distributed ledger, and receives an accepted offer.