THE Philippine Chamber of Commerce and Industry (PCCI) on Friday said they are in support of the Department of Information and Communications Technology’s (DICT) new blockchain-powered budget management system.
In a statement, PCCI President Ferdinand Ferrer congratulated DICT Secretary Henry Aguda for his “visionary leadership in spearheading this initiative.”
“This initiative demonstrates the realization of that commitment. Using blockchain, Aguda and the DICT went a step further by implementing a robust safety measure,” Ferrer said.
“This is a clear signal that the Philippines is serious about strengthening investor confidence and restoring public trust... By placing the national budget on a secure, decentralized ledger, the DICT is steering the country toward a trust-by-design model of governance, one that ensures public funds are managed with unprecedented transparency and accountability,” he added.
According to Ferrer, the system, known as the Digital Bayanihan Chain, offered “renewed hope that the country is moving decisively toward stronger governance and a more inclusive economy that benefits all Filipinos.”
“By providing a verifiable audit trail, we are effectively reducing "country risk' and signaling to the world that our country is a safe, transparent, and modern destination for business. This isn't just a technological upgrade; it is a powerful tool for building global investor confidence. We stand ready to work with government and stakeholders to ensure the success of this initiative,” Ferrer said.