MUMBAI, India, Sept. 12 -- Intellectual Property India has published a patent application (202441017312 A) filed by Dr. A. Packialatha; and Dr. K. Kalaivani, Chennai, Tamil Nadu, on March 11, 2024, for 'online based auction management system using blockchain.'
Inventor(s) include Dr. A. Packialatha; and Dr. K. Kalaivani.
The application for the patent was published on Sept. 12, under issue no. 37/2025.
According to the abstract released by the Intellectual Property India: "This patent is about online auctions that makes use of the Ethereum blockchain, Truffle, Ganache, and. MetaMask to enhance security and transparency. The technology makes it possible for auctioneers and purchasers to do business in a decentralized setting while still protecting their personal information and doing it in an effective and time-saving way. The use of blockchain technology into the design of the system enables real-time monitoring of auction transactions as well as the prevention of fraudulent behaviour via the utilisation of smart contracts, digital signatures, and distributed ledgers. Users are able to quickly engage in auctions and keep track of the status of their bids because to the intuitive nature of the system's graphical user interface (GUI). In addition to this, the system is adaptable to a diverse selection of auction formats as well as methods for submitting bids. This platform offers a dependable answer to the problem of how to organise safe and open online auctions in a way that is simple enough for participants to access. It does this by making use of the capabilities offered by the Ethereum blockchain, Truffle, Ganache, and MetaMask."
Disclaimer: Curated by HT Syndication.
