According to the Department of Information and Communications Technology (DICT) Sec. Henry Aguda, the government is taking concrete steps to test whether blockchain can make the Philippines’ national budget more open and traceable.
He told the Malacañang Press Corps that a working prototype would be presented to senators and representatives to prove that the idea could work. The move comes as lawmakers push a bill that would put budget documents and transaction records on a distributed ledger for public audit.
DICT prepares to build a prototype
Aguda said the country had “many blockchain experts” and one of his tasks was to provide a minimum viable product so that lawmakers could see a live demonstration before any full rollout.
He also mentioned that the DICT has been experimenting with stablecoin systems to trace peso transactions in banks. He will reportedly ask President Ferdinand Marcos Jr. to certify that the relevant bill is urgent, signaling that the executive branch may push for faster action.
Senate Bill 1330, titled “Philippine National Budget Blockchain Act,” would require the executive branch, Congress, and local governments to upload and publish their budget transactions on a blockchain.
If passed, citizens will be able to track allocations, bids, disbursements and contracts on a publicly visible channel. The bill also aims to borrow features from the Full Disclosure Bill so people can compare contracts and expense reports.
On transparency and security
During a Senate hearing on SB1330, the Science and Technology Committee discussed how blockchain could help reveal delays or anomalies in spending. Sen. Bam Aquino told the panel that placing documents in a public ledger could make budget processes “transparent, honest and secure.”
Supporters say the visible chain would allow ordinary citizens to track where funds are flowing and spot asymmetries more quickly than current systems allow.
Legal expert questions blockchain budget push
Not everyone is convinced by the idea. Florin Hilbay, former solicitor general and now dean of the Silliman University School of Law, asked clearly:
“Do we really need to put the budget on a blockchain?
Corporate Finance Institute
He warned that what started as a promise of openness could turn into a centralized database kept on a few servers run by contractors.
Hilbay also highlighted cost concerns, saying the plan allocates PhP500 million ($8.6 million) as an upfront expense, and he argued that smart contracts and validator nodes add complexity and new technical risks.
Aguda said the DICT would not raise public funds for the prototype and that private groups had already offered to help.
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