DBM Launches Blockchain on Polygon to Publicly Track Philippine Budgets

Published: 2025-07-31 04:59:23 |

The Philippine Department of Budget and Management (DBM) has launched a blockchain-based platform on the Polygon network to publish immutable versions of Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs). Developed in collaboration with BayaniChain’s Lumen BaaS and ExakIT Services, and leveraging the Prismo Protocol for data orchestration, the system mints each budget document as an NFT on-chain. Unveiled on July 30 at the DBM Central Office, this initiative under Project Marissa 2023 aims to bolster budget transparency and prevent document tampering. Users can verify records via QR codes or manual search, accessing documents dated from 2024. Undersecretary Maria Francesca Del Rosario highlighted blockchain’s role in combating deepfakes, while Bayanichain CEO Paul Soliman called it a precedent for public finance accountability. The move aligns with the DBM’s “INVISIBLE Government” vision and echoes earlier plans to integrate blockchain in procurement processes.

Neutral

While the DBM’s adoption of Polygon for transparent budget records showcases real-world blockchain utility and may bolster long-term confidence in the network, it is unlikely to trigger immediate trading moves. Historical government blockchain pilots often generate positive sentiment around the protocol but produce minimal short-term price volatility. Traders should view this as a credibility milestone for Polygon rather than a direct catalyst for MATIC price swings.