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Florabel Yatco, Representative of the NANAY Party-List, has filed House Bill No. 1322, also known as the “Philippine National Blockchain Act.”
This filing marks the 13th bill introduced in the House of Representatives during the 20th Congress that seeks to utilize blockchain technology to enhance transparency and accountability in the Philippines’ national budget.
About HB 1322
Formally titled “An Act Mandating the Establishment and Implementation of a National Budget Blockchain System to Enhance Transparency, Accountability, and Public Participation in the Philippine Budget Process,” the bill proposes a radical shift in how government spending is tracked.
How It Works
- Management: The system will be jointly managed by the Department of Information and Communications Technology (DICT), the Department of Budget and Management (DBM), and the Commission on Audit (COA).
- Digital Public Assets: Government budget transactions will be recorded on a blockchain as “Digital Public Assets.”
- Smart Contracts: The bill mandates the use of smart contracts to automate fund releases only upon the verification of specific milestones, reducing human intervention and potential corruption.
“The national budget is more than numbers on paper. It represents the hopes, needs, and everyday struggles of Filipino families. Every peso allocated by the government comes from the hard work of our people. It is therefore only right that citizens are given a clear, transparent, and accessible way to see how public funds are allocated and spent.”
Rep. Florabel Yatco, Author, HB 1322
Who is Rep. Florabel Yatco?
Rep. Yatco is a neophyte lawmaker in the 20th Congress, representing the NANAY Party-List, a sectoral group advocating for the rights and welfare of Filipino mothers and families.
Before entering politics, she built a successful career as a chef and restaurateur. She established the Florabel Group of Restaurants, which has grown to encompass 23 dining concepts across the National Capital Region and Laguna, employing over 770 workers.
“By utilizing blockchain technology, budget transactions can be recorded in a secure, transparent, and immutable digital ledger. This will allow for real-time tracking of fund releases and expenditures, reduce opportunities for corruption, and strengthen accountability across all levels of government. Most importantly, it empowers citizens to participate more actively in monitoring how public resources are used.”
Rep. Florabel Yatco, Author, HB 1322
20th Congress’ Blockchain the Budget Bills
Rep. Yatco is far from alone in this legislative push. There are now 13 House Bills aiming to put the national budget on the blockchain.
- HB 4075 | Rep. Angelo Marcos Barba (Ilocos Norte 2nd District)
- HB 4380 | Rep. Javier Miguel Benitez (Negros Occidental 3rd District)
- HB 4489 | Rep. Brian Daniel Poe Llamanzares (FPJ Panday Bayanihan Party-List)
- HB 4611 | Rep. Charisse Anne Hernandez (Calamba City)
- HB 4853 | Rep. Iris Marie Demesa Montes (4K Party-List)
- HB 4935 | Rep. Agatha Paula Aguilar Cruz (Bulacan 5th District)
- HB5041 | Rep. Ziaur-Rahman Alonto Adiong (Lanao del Sur 1st District)
- HB 5402 | Rep. Leody Tarriela (Occidental Mindoro)
- HB 5943 | Rep. Jan Padiernos (GP Party-List)
- HB 6909 | Rep. Bienvenido Abante, Jr. (Manila City 6th District)
- HB 7296 | Rep. Edgar Erice (Caloocan City 2nd District)
- HB 7881 | Rep. Paolo Duterte (Davao City 1st District) and Rep. Omar Vincent Duterte (Davao City 2nd District)
While the majority of these bills focus specifically on a “National Budget Blockchain System,” other legislators have proposed broader or alternative frameworks:
- Rep. Edgar Erice (HB 4792): Focuses on positioning the Philippines as a general “Blockchain Innovation Hub” and lowering remittance fees for OFWs.
Worth Reading: Egay Erice Pushes Crypto Bill For Lower Remittance Fees to OFWS
- Rep. Leila de Lima (HB 6898): Filed the “CADENA Act,” which is the direct House counterpart to Senator Bam Aquino’s Senate-passed bill. This measure advocates for a “technology-neutral” approach, mandating the use of the best available technology (currently blockchain) without locking the government into a specific vendor.
Worth Reading: Rep. De Lima Files House Bill Fully Adopting Senate’s CADENA Act of Sen. Bam Aquino
For any of these bills to become law, a unified version must pass both the House and the Senate and undergo bicameral harmonization. As of writing, Rep. De Lima’s CADENA bill is pending with the Committee on Appropriations, while Sen. Aquino’s version has already secured Senate approval.
This article is published on BitPinas: NANAY Party-List Rep. Yatco Files 13th Bill Pushing for Blockchain in National Budget
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