Philippines Launches First Large-Scale Government Blockchain for Budget Transparency
The Department of Budget and Management (DBM) has made a significant stride in government transparency and security. It has launched blockchain.dbm.gov.ph, a public portal that records key budget docs on a blockchain. This marks one of the first large-scale government implementations of blockchain technology in Asia.
The DBM, in collaboration with BayaniChain and ExakIT Services, introduced blockchain technology to the government's budgeting process. Starting in 2024, the public can verify budget docs through the new portal. Once approved, Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs) will be immutably written to the Polygon blockchain as Non-Fungible Tokens (NFTs). This prevents any alteration or fraud.
The DBM plans to expand the use of blockchain to cover the entire budget lifecycle, complemented by AI-assisted analytics. The public can inspect how the DBM authorises and releases funds through the new platform. Verification is simple: just scan a QR code or search manually on the portal for docs issued from 2024 onwards.
The launch of blockchain.dbm.gov.ph is a milestone in government accountability. It ensures transparency and integrity in the budgeting process. The public can now verify key budget docs, fostering trust in the government's fiscal management.
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