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Risks, gaps in blockchain-based budget plan flagged
Business World Philippines
|September 12, 2025
A PROPOSAL to use blockchain technology to enhance transparency in the national budget process would require significant investment in digital infrastructure and safeguards to prevent insider misuse, analysts said.
“Blockchain technology is nota silver bullet,” Lito M. Villanueva, founding chairman of FinTech Alliance Philippines, said in a Viber message. “While it ensures immutability of records, risks can still emerge from endpoints, insider misuse or poorly designed smart contracts.”
He said the proposed blockchain-based budget system should be rolled out in phases and anchored on clear governance standards, with public-private collaboration to ensure effective oversight. “Safeguards must therefore cover the whole ecosystem, not just the blockchain ledger itself,” he added.
This story is from the September 12, 2025 edition of Business World Philippines.
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