Aquino Urges House to Pass Blockchain Bill for Transparent Expenditures

Senator Bam Aquino has urged the House of Representatives to pass the proposed Citizen Access and Disclosure of Expenditures for National Accountability (CADENA) Act. The bill aims to provide real-time visibility into state expenditures by publishing financial documentation and disbursement records onto a distributed ledger.

The CADENA Act, originally called the 'Blockchain Budget Bill', would log government spending on an unalterable blockchain ledger. This would prevent ghost projects, unauthorized fund diversions, and off-the-books spending by making every transaction step open to public verification.

Aquino stated that modernizing fiscal accountability should be a priority, saying, 'Kung seryoso tayo sa paglaban sa korapsyon at pagsusulong ng transparency, panahon nang kumilos.'