The Senate on Monday approved on third and final reading a measure that seeks to boost transparency and accountability in government spending through digital disclosure and blockchain technology.
Senate Bill 1506, or the Citizen Access and Disclosure of Expenditures for National Accountability (CADENA) Act — also known as the “Blockchain the Budget” bill l — was passed unanimously with 17 affirmative votes, no objections, and no abstentions.
The bill’s approval came days after it was included in the Legislative-Executive Development Advisory Council’s list of priority measures.
Senator Bam Aquino, the bill’s author, said its passage reflected the growing public demand for accountability amid the ongoing investigations into corruption, including the anomalies in flood control projects.
“There are laws whose time has come,” Aquino said, noting that public attention on corruption issues helped push the measure forward.
Under the proposed law, all government agencies will be required to upload and regularly update budget-related documents on a Digital Budget Platform. These include contracts, procurement records, bills of materials, project costs, and other expenditure documents.