SEC Introduces Blockchain Platform for Corporate Filings

The Philippine Securities and Exchange Commission (SEC) has introduced guidelines for using its blockchain-based document signing and verification platform, VERITAS.

VERITAS allows corporate representatives to digitally sign and verify SEC-related filings on a decentralized ledger. The platform is accessible through the SEC Check mobile app and operates in conjunction with the Electronic SEC Universal Registration Environment (eSECURE) digital identity system.

The circular applies to credentialed eSECURE account holders, including incorporators, directors, corporate officers, and authorized representatives submitting corporate documents such as Articles of Incorporation, By-Laws, and Certificates of Authentication. The platform records signing events on a blockchain using public-key cryptography and cryptographic hashing to create permanent audit trails and prevent document alteration.

The SEC noted that users are solely responsible for securing and backing up their private keys, as the SEC does not store private keys or recover lost credentials. Documents signed through VERITAS hold the same legal force and enforceability as signed and notarized physical documents.