Blockchain Can Help Combat £127 Billion UK Procurement Fraud Annually
🚨Procurement Fraud costs the UK Economy a whopping £127 billion every year — equating to more than £4,000 lost per second, every day.
🚨 According to the United Nations data, the global cost of procurement fraud adds up to a staggering £1.8 trillion to £6.2 trillion annually — this means vital services are never delivered, critical infrastructure is never built, and people’s lives and well-being are at risk.
📍The Blockchain can mitigate public procurement fraud, build transparency, and improve integrity between Government and enterprise procurement processes.
✍🏽 Research from the JBBA.
