Philippines' DBM Launches Blockchain Budget Portal for Transparency
The Department of Budget and Management (DBM) in the Philippines has taken a significant step towards transparency and accountability. It has officially adopted blockchain technology in its budgeting process, launching a public portal that records key budget docs on a blockchain.
The new platform, blockchain.dbm.gov.ph, ensures records of Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs) are tamper-proof. Once approved, these docs are immutably written to the Polygon blockchain as Non-Fungible Tokens (NFTs), preventing alteration or doc fraud.
To verify docs issued from 2024 onwards, the public can simply scan the QR code on a valid SARO or NCA, or manually search on the new portal. This initiative is one of the first large-scale government implementations of blockchain technology in Asia.
DBM Undersecretary Goddes Hope 'Sasa' Libiran described blockchain as a governance tool to ensure transparency and accountability in public funds management. The department plans to expand the use of blockchain to cover the entire budget lifecycle, complemented by AI-assisted analytics to detect anomalies and inform fiscal policy.
The DBM's adoption of blockchain technology is a stride towards enhancing transparency and accountability in the Philippines' budgeting process. The public portal allows citizens to verify docs, while the use of NFTs ensures doc integrity. The department's plans to expand blockchain usage and integrate AI-assisted analytics further strengthen its commitment to fiscal responsibility.
