DBM taps blockchain for budget release system

MANILA, Philippines — The Department of Budget and Management (DBM) adopted blockchain technology in its budget release system, marking one of the first large-scale government implementations of its kind in Asia.

In partnership with BayaniChain and ExakIT Services, the DBM this quarter launched a platform that logs Special Allotment Release Orders and Notices of Cash Allocation on the Polygon blockchain.

The portal, accessible at blockchain.dbm.gov.ph, makes entries tamper-proof while allowing the public to verify how funds are authorized and released, BayaniChain said in a statement.

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The system is designed to bolster transparency, security, and public trust in fiscal management, it added.

BayaniChain CEO Paul Soliman said the project highlights how blockchain and artificial intelligence can “help institutions safeguard critical processes and deliver lasting value to their stakeholders.” /dda

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