IDF e-Auction 3.0 is transparent, decentralised auction system. It minimises corruption and mismanagement risks. Also, reduces the state budget expenditure and decreases barriers to participate.
In November 2015, Innovations and Development Foundation started development of the next generation, decentralized, blockchain-based e-Auction system. The platform is built to support non-corrupt, transparent privatization process of state and regional property, as well as land and enterprises. The system is completely self-sustainable. As profit for electronic trade platforms comes from users through the registration of payments.
The first phase of the project was launched in cooperation with the President's Administration of Ukraine in 2016, though included various governmental bodies and several regions of Ukraine as well.