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The Blockchain Technology; Some Theory and Applications

In the paper we analyse the current EU public procurement legislation on innovative solutions from an economic perspective. In particular, for contracting authorities interested in procuring products which are not yet in the market we identify two main options, based on whether or not they decide to unbundle the procurement of R&D services from that of the final product. Taking the point of view of both the competing firms and the contracting authorities we discuss economic advatanges and limitations of the two options. We specifically focus on the R&D stage arguing that to develop an innovative solution selected firms may compete, but also collaborate.