Fintech Alliance pushes blockchain bill to track budget

MANILA, Philippines — FinTech Alliance Philippines, the country’s largest digital industry group, endorsed a House bill that would mandate the use of blockchain in the national budget system to boost transparency and public oversight.

The country’s largest digital and fintech industry group called for the swift passage of a proposed measure authored by Rep. Brian Poe Llamanzares.

The proposed measure is the counterpart bill in the House of Representatives to the “Blockchain the Budget Bill” filed in the Senate by Senator Bam Aquino, Chair of the Senate Committee on Science and Technology.

READ: Blockchain use to make gov’t budget more transparent backed

“This landmark legislation represents a bold step forward in embedding transparency, efficiency, and citizen trust at the very heart of governance,” said Lito Villanueva, founding chairman of FinTech Alliance Ph.

“By leveraging blockchain technology, we can eliminate opacity, curb leakages, and empower the public to track every peso of the national budget from allocation to execution,” Villanueva added. /dda

Source: INQUIRER.NET