Blockchain use to make gov’t budget more transparent backed

SENATE INVESTIGATION ON ALLEGED FLOOD CONTROL PROJECTS / AUGUST 19, 2025Senator Bam Aquino during the Senate Blue Ribbon Committee investigation on alleged flood control projects held at Senate of the Philippines, Pasay City, on Tuesday, August 19, 2025. INQUIRER PHOTO / NIÑO JESUS ORBETA
Senator Bam Aquino –INQUIRER PHOTO / NIÑO JESUS ORBETA

MANILA, Philippines — The Philippines’ biggest fintech group is urging lawmakers to swiftly pass a bill that would use blockchain to make the national budget process more transparent and efficient.

In a statement on Tuesday, the FinTech Alliance Philippines called for the immediate passage of the “Blockchain the Budget Bill” filed by Senator Bam Aquino.

READ: PH set to become Asia’s blockchain capital?

Under Aquino’s Senate Bill No. 1330, blockchain technology will be utilized to ensure that every peso of public funds allocated in the national budget is traceable, transparent, auditable and accessible to citizens in real time.

Governance
While the national budget is one of the most important instruments of governance, Aquino said documents related to it have remained closed, highly technical and difficult to understand, making oversight almost impossible even for those who want to scrutinize them.

Commenting on the proposal, Lito Villanueva, founding chair of FinTech Alliance, said transparency is the bedrock of good governance.

By leveraging blockchain, we can finally give every Filipino the power to see exactly how their hard-earned money is spent,” Villanueva said.

If enacted into law, the Department of Information and Communications Technology (DICT), in coordination with the Department of Budget and Management and the Commission on Audit (COA) will establish a blockchain-based budget system where all records of the national budget are recorded as digital public assets (DPAs).

Public portal
A public portal with real-time access to DPAs will be established to enable citizens, the COA and oversight bodies to independently verify the flow of funds, down to the agencies, projects and beneficiaries.

Anomalies flagged by President Marcos are now at the center of congressional probes running alongside deliberations on the proposed P6.79-trillion 2026 budget, equal to 22 percent of gross domestic product and 7.4 percent higher than this year’s outlay.

Mr. Marcos has warned of a possible budget deadlock if lawmakers push for a version that diverges from his priorities.

Aquino has threatened to scrap the entire P270-billion flood control allocation unless funds are properly directed to flood-prone areas.

Source: INQUIRER.net