Sen. Bam Aquino files bill for blockchain-based national budget

Senator Bam Aquino filed Senate Bill No. 1330, the National Budget Blockchain Act, aiming to enhance transparency and accountability in the Philippine national budget through blockchain technology.

The bill seeks to make the national budget publicly available, accessible, and easy to understand, thereby empowering citizens to scrutinize government spending and restore public trust.

A counterpart bill, House Bill 4380, was filed in the lower chamber by Negros Occidental 3rd District Representative Javi Benitez.

Both bills designate the Department of Information and Communications Technology (DICT) as the lead implementing agency, responsible for developing the blockchain system.

The DICT will contract private sector partners, technology providers, and academic institutions for the system's design, development, deployment, and maintenance.

The Department of Budget and Management (DBM) will ensure the integration of the national budget process into the blockchain system and provide necessary data.