The Philippine Senate is considering Bill 1330, introduced in late August by Senator Paolo Benigno "Bam" Aquino IV, which plans to spend about $8.60 million to streamline state budget records, with the aim of increasing transparency in government spending and curbing corruption. The move comes amid intense public concern over alleged irregularities in about $9.20 billion infrastructure projects.
However, several legal experts have expressed concern. Florin Hilbay, a former attorney general of the Philippines, has warned that the use of blockchain technology alone does not automatically promote transparency or prevent corruption, but could instead reduce it to a "marketing tool". Russell Geronimo, a technology law expert, points out that the problem is not a lack of tamper-proof ledgers, but rather weak procurement oversight, auditing and whistleblower protection mechanisms.
The Fintech Lawyers Association of the Philippines cautioned that private entities controlling blockchain infrastructure could lead to the de facto privatization of public data, recommending that the government retain ownership and control over budget data and adopt open-source protocols to prevent vendor lock-in and monopolies.
Philippines plans to launch blockchain budget system, legal experts warn of risks
2025-10-16 15:52:57
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