DICT backs blockchain plan for national budget transparency

Amid controversies over alleged insertions in the national budget, the Department of Information and Communications Technology (DICT) has thrown its support behind a multisectoral initiative to put the government’s budget on the blockchain.

Information Secretary Henry Rhoel Aguda said the DICT is backing the project being developed with New York-based blockchain firm Polygon Labs and local tech partner Bayani Chain.

Aguda stressed that blockchain’s immutability makes it a powerful tool against corruption. “Blockchain is a platform for data, with immutability. It cannot be erased or changed. From a record-keeping standpoint, you have an immutable ledger, a single version of the truth,” he said.

Meanwhile, FPJ Panday Bayanihan Party-list Rep. Brian Poe Llamanzares revealed that the initiative has gained support in both houses of Congress. 

He said he has filed House Bill 4489 to institutionalize blockchain use for the national budget. TRACY CABRERA