The Philippine Chamber of Commerce and Industry (PCCI) expressed support on Friday for the Department of Information and Communications Technology (DICT) following the launch of a blockchain-powered budget management system.
PCCI president Ferdinand “Perry” Ferrer congratulated DICT Secretary Henry Aguda for what he described as a landmark initiative to strengthen transparency and accountability within the government.
Ferrer noted that the launch fulfills a commitment made by Aguda at the 51st Philippine Business Conference last year to develop a transparency portal for public funds.
The adoption of blockchain technology adds a layer of security to the management of public finances by reinforcing safeguards against misuse and inefficiencies.
Ferrer said the platform, known internally as the Digital Bayanihan Chain, offers optimism that the country is moving toward stronger governance and a more inclusive economy.
Ferrer said the move signals that the Philippines is serious about restoring public trust and strengthening investor confidence.
He said that by placing the national budget on a secure and decentralized ledger, the DICT is steering the country toward a trust-by-design model of governance that provides unprecedented transparency.
The PCCI said the integration of blockchain into fiscal processes could change the country’s investment climate because global capital tends to flow toward markets with stable and transparent institutions.
Ferrer said providing a verifiable audit trail reduces perceived country risk and signals to the world that the Philippines is a modern and safe destination for business.
The organization, which is the largest business group in the country, said it is ready to work with the government and other stakeholders to ensure the successful implementation of the digital initiative.
