The FinTech Alliance Philippines, the country’s largest and most influential digital and fintech industry association, has strongly endorsed the immediate passage of a proposed measure mandating the establishment of a National Budget Blockchain System to promote transparency, accountability, and citizen participation in the Philippine budget process.
The measure, authored by Rep. Brian Poe Llamanzares in the House of Representatives, serves as the counterpart bill to the “Blockchain the Budget Bill” filed in the Senate by Senator Bam Aquino, Chair of the Senate Committee on Science and Technology.
“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 Filipinos to track every peso of the national budget from allocation to execution. Every peso counts, and every Filipino deserves to see where their taxes go. With blockchain, there will be no hiding, no loopholes, and no excuses.”
The proposed National Budget Blockchain Bill ensures immutable transparency by recording every budget entry, procurement process, and disbursement on a tamper-proof ledger; real-time accountability by giving citizens, watchdogs, and policymakers instant access to updates on government projects; and inclusive participation by enabling the public to engage in monitoring budget performance through a secure digital platform, thereby strengthening participatory governance.
The FinTech Alliance emphasized that the measure aligns with President Ferdinand R. Marcos Jr.’s vision for a digitally empowered, transparent, and innovation-driven government, as underscored during recent technology and innovation summits. The adoption of a National Budget Blockchain System, it added, positions the Philippines at the forefront of digital governance in Asia and as a global model for harnessing emerging technologies for nation-building.