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BCP eyes pilot to put DPWH budget on blockchain
The Department of Public Works and Highways (DPWH) is piloting blockchain technology named "Integrity Chain" to combat corruption in government infrastructure projects, with a memorandum of agreement signed on September 30 between Acting Secretary Vivencio "Vince" Dizon and Blockchain Council of the Philippines (BCP) president Donald Patrick Lim.
The Integrity Chain aims to track and secure all financial transactions and milestones in selected national infrastructure projects, with a pilot focusing on foreign-assisted projects (FAPs) under the DPWH.
This initiative seeks to provide transparency from budget allocation and procurement to contract awards, implementation, monitoring, and payments.
The BCP is also looking to pilot an initiative to place the DPWH's national budget on the blockchain, which would be privately funded and at no cost to the government.
The proposed pilot project would demonstrate how blockchain technology can promote transparency and accountability in government spending.
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