TECHNOLOGY stakeholders on Tuesday said political leaders need to adopt a mindset that values transparency and accountability before blockchain technology can take root at the national level and in local governments.
This was the consensus that emerged from The Manila Times Blockchain Roundtable at the Asian Institute of Management, organized to discuss developments in a technology that provides a decentralized, immutable ledger that provides a publicly verifiable and tamper-proof record of every transaction across a peer-to-peer network.
The Philippines made history on Jan. 15, 2026, by becoming the first country in the world to integrate its entire national budget into a blockchain system to provide greater transparency in the budgeting process in the wake of the flood control bribery scandal.
"Blockchain is not a magic solution, but it is one of the powerful tools we have today to strengthen public trust,” said Qadena Foundation Executive Director Gail Cruz-Macapagal. “It will only do its work if the people managing are accountable, and if citizens understand how to engage with it.” "Perhaps the better question is not whether blockchain, or other technologies, is the ultimate tool, but whether we are ready to build systems and policies, and if we have the culture to use it responsibly. If implemented thoughtfully, it can help transform accountability from something promised to something probable," she added.
National ICT Confederation of the Philippines board member Mary Joy Abueg agreed, saying a change of mindset was needed to grow as a nation.
"As we push for e-governance and ease of doing business, we also explore blockchain's potential for transparent and accountable governance as well. This is no longer about just technology or just nation-building, it is also about creating an economy where no one in the country is left behind," Abueg said.
National Association of Data Protection Officers of the Philippines founding president Sam Jacoba, Fintech Alliance PH Trustee Imelda Tiongson and Traxion Tech CEO Ann Cusia highlighted that public trust was a key ingredient if the Philippines wants to grow as a First-World digital nation.
"If we are serious about becoming a First-World digital nation, we must recognize that truth and public trust are now critical to digital infrastructure. Without them, digital transformation stalls, innovation becomes resistant, and institutions weaken as you all have seen recently. Blockchain can help with this, but alone, it, or other technologies, will not be enough," Jacoba said.
Cuisia added: "When the citizens and markets cannot clearly verify where public money goes, procurement becomes harder, investments become cautious, and even honest institutions absorb the cost of systematic distrust.” Tiongson said they are believers in blockchain technology and know it can help, but said it alone is not enough.
"The success of this and other integration of technologies ultimately depends on the collective will of the government and the citizens to uphold transparency, accountability, and integrity. This is not just about how technology can help, it is really about the people and the Philippines," she said.
Novarte founder and CTO William Emmanuel Yu and Coins.ph Business Development and Marketing Manager Emmanuel Ignacio said that along with transparency, the participation of all stakeholders, including ordinary Filipinos, in using the technology would be needed to initiate a change in culture.
"We have a lot of open data from agencies that is available, but they have to be in a useful state that could be understood by everyone, including ordinary Filipinos. Even if blockchain is used, participation is important so it can be understood by all. Technology must be used in a proper context, proper time, and [supported] with proper resources," Yu said.
"Filipinos are highly digital, mobile, and very quick to adopt [technology] and we have seen that through the last few years with recent technologies, but I think we should go beyond that and increase knowledge and participation among them," Ignacio said.
“Inclusive finance should not end with giving people access to online payments or digital wallets, it should also include giving more people the opportunity to participate in wealth generation and blockchain and similar technologies can help with that," Ignacio added.
In her opening remarks at the roundtable, The Manila Times Chief Executive Officer Anna Marie Ang-Thompson emphasized that strategic evolution is necessary in the modern digital economy.
She warned that “there is also a very real risk of superficial adoption. As the immutable ledger becomes a policy priority, agencies may adopt the language of the technology without embracing its actual principles.” The Manila Times President and Chief Operating Officer Blanca Calilung Mercado said the new roundtable format was part of an ongoing commitment to inclusive and multi-stakeholder dialogue on digital transformation.
