FinTech Alliance Philippines, the country’s largest network of fintech and digital innovators, has thrown its full support behind Senate Bill No. 1330 or the “Blockchain the Budget Bill,” authored by Senator Bam Aquino.
The group is also urging President Ferdinand Marcos Jr. to certify the measure as urgent, stressing its potential to transform government transparency and accountability.
The proposed law seeks to leverage blockchain technology to make the national budget fully transparent, accessible, and auditable by the public. With government allocations, contracts, and projects embedded into a secure, tamper-proof blockchain, citizens will be able to track, verify, and understand where public funds go.
“Walang tago. Walang lusot. Bawat kontrata, bawat proyekto kayang i-track, i-audit, at unawain ng bawat Pilipino,” Senator Aquino said in filing the bill, underscoring the vision of open and accountable governance.
If passed, the measure would place the Philippines at the forefront of using blockchain for public administration, setting a global precedent for digital trust in governance. More importantly, it would foster stronger confidence between citizens and the state by ensuring that every peso of taxpayer money is visible and traceable.
Lito Villanueva, founding chairman of FinTech Alliance PH and executive vice president and chief innovation and inclusion officer of RCBC, echoed the importance of the bill.
“Transparency is the bedrock of good governance. By leveraging blockchain, we can finally give every Filipino the power to see exactly how their hard-earned money is spent. We strongly urge both houses of Congress and President Marcos Jr. to prioritize this landmark legislation,” Villanueva said.
