The Philippines has taken a significant step towards digital transparency by launching a blockchain system that tracks public spending documents on the Polygon network.
Launch of Blockchain System
The Philippine government has unveiled a new blockchain system that records public spending documents on the Polygon network. This initiative is seen as a landmark moment in the country’s digital governance efforts, making it one of the first countries in Asia to adopt public blockchain infrastructure for financial transparency.
Structure and Functionality
The system was developed by the Department of Budget and Management (DBM) in partnership with local blockchain company BYC and deployed through the Lumen Blockchain-as-a-Service platform. It allows citizens to verify and monitor the flow of government funds in real time, providing easier access to key budget documents such as Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs). Publishing records on the blockchain ensures that data cannot be deleted or altered without leaving a visible trace.
Long-term Goals and Plans
The project aligns with the government's effort to protect democratic institutions from digital threats and to provide tools that can guarantee the integrity of public records. Future plans include expanding the platform to cover procurement contracts, asset management, and real-time auditing. This is expected to lead to the creation of an infrastructure that is "transparent by default and accountable at every step."
The launch of the blockchain system in the Philippines marks an important step toward increasing public trust and enhancing transparency in government financial management.
