Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.
At the House Committee on Appropriations hearing on the Department of Information and Communications Technology (DICT), lawmakers pressed officials on whether the agency has the resources to deliver on its digital governance projects. Among the points raised was the use of blockchain to strengthen transparency in the national budget process.
Representative Niko Raul Daza of Northern Samar asked DICT Secretary Henry Aguda about the agency’s position on blockchain adoption, citing earlier bills filed in both chambers, including one by committee chair Congressman Brian Daniel Poe Llamanzares, representative for FPJ Panday Bayanihan Partylist. Aguda described blockchain as an “immutable ledger” that prevents tampering with records, adding that it is already being used in banking and regulatory compliance.
The DICT, he said, has begun assisting the Department of Budget and Management (DBM) on blockchain initiatives and has prepared its own systems, such as the recently launched e-app, to be blockchain-ready. A policy framework is also being drafted to encourage wider adoption in government.
When asked how much it would cost to implement blockchain across government processes, Aguda gave a rough estimate but clarified that the DICT will return to the committee with a more detailed and accurate costing.
“It might range to a couple of hundred million to maybe a billion or so, depending on the scope.
Whatever we spend on blockchain, if it becomes successful in addressing governance, I think that will be more than worth the investment.”
Henry Aguda, Secretary, Department of Information and Communications Technology
Daza agreed that the potential benefits outweighed the price tag.
“I share the same sentiments with the secretary. I guess we’ll cross that bridge when we get there.”
Niko Raul Daza, Representative, First District, Northern Samar
Read more about the blockchain bills filed both in the Senate and the House on BitPinas:
This article is published on BitPinas: DICT Chief: Blockchain Rollout May Cost Up to ₱1B, But Final Proposal Wth Accurate Figure Still in the Works
What else is happening in Crypto Philippines and beyond?
