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The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has thrown its support behind the Department of Information and Communications Technology (DICT) following the launch of its blockchain-powered national budget system.
Key Details
In a press statement issued January 16, 2026, the PCCI described the initiative as a “milestone” in reviving public and investor confidence, countering recent skepticism from technical experts regarding the project’s security and transparency claims.
‘Reducing Country Risk’
PCCI President Ferdinand “Perry” Ferrer lauded DICT Secretary Henry Aguda for his “visionary leadership,” and noted that the project fulfills a commitment Aguda outlined during the 51st Philippine Business Conference last year.
Ferrer emphasized that the system, internally dubbed the “Digital Bayanihan Chain,” offers a “verifiable audit trail” that effectively reduces “country risk” in the eyes of global investors.
“In a global market where capital flows toward stability and transparency, the PCCI views the use of blockchain technology in fiscal processes as a game-changer for the Philippine investment climate.”
Ferdinand “Perry” Ferrer, President, PCCI
He added that placing the national budget on a decentralized ledger steers the country toward a “trust-by-design” model of governance. This signals that the Philippines is a “safe, transparent, and modern destination for business”.
Context: The World’s First On-Chain Budget
The PCCI’s endorsement follows the DICT’s announcement earlier this week that the Philippines will become the first nation to implement a fully on-chain national budget starting with the 2026 General Appropriations Act (GAA).
The system aims to create a permanent “Digital Seal of Truth” for public funds. It operates on a “Consortium Blockchain” model anchored by nodes owned by the Department of Budget and Management (DBM), the DICT, and the Commission on Audit (COA).
Expert Scrutiny Persists
While the business sector has welcomed the move, the initiative faces continued scrutiny from local technology and cybersecurity experts.
Following the launch, fintech executive and Qadena Foundation Trustee Ann Cuisia raised concerns about the DICT’s claims that the system is “101% hack-free,” warning that such language creates a false sense of security.
Cuisia and other experts have pointed out that blockchain is not invulnerable, citing major historical exploits in the crypto space.
Furthermore, questions remain regarding the project’s funding structure. The initial infrastructure was built at “no cost to the government” through a grant, of which experts have urged the DICT to disclose the full terms of this “free” deal. Cuisia warned that relying on private grants for critical national infrastructure could compromise digital sovereignty or lead to vendor lock-in.
This article is published on BitPinas: PCCI Backs DICT’s Blockchain Budget System as ‘Game-Changer’ for Investor Confidence
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