TechFlow news, October 16 — According to Decrypt, the Philippine Senate is considering Bill No. 1330, introduced by Senator Paolo Benigno "Bam" Aquino IV at the end of August, which plans to allocate approximately $8.6 million to record national budget data on a blockchain. The initiative aims to enhance transparency in government spending and curb corruption. This move comes amid public scrutiny over alleged irregularities in around $9.2 billion worth of infrastructure projects.
However, several legal experts have expressed concerns. Former Philippine Solicitor General Florin Hilbay warned that merely adopting blockchain technology does not automatically ensure transparency or prevent corruption, and could instead reduce it to a "marketing tool." Technology law expert Russell Geronimo pointed out that the core issue lies not in the lack of an immutable ledger, but in weak mechanisms for procurement oversight, auditing, and whistleblower protection.
The Philippine Association of Fintech Lawyers cautioned that private entities controlling the blockchain infrastructure could lead to de facto privatization of public data. It recommended that the government retain ownership and control over budget data and adopt open-source protocols to prevent vendor lock-in and monopolies.
