The Philippine Chamber of Commerce and Industry (PCCI) welcomed the government’s move to put its entire national budget on the blockchain system, saying that it could help restore investor confidence in the country.

In a statement, PCCI said the blockchain-powered budget management system offers “renewed hope” that the country is moving toward stronger governance.

“This is a clear signal that the Philippines is serious about strengthening investor confidence and restoring public trust,” said PCCI President Ferdinand Ferrer.

The Department of Information and Communications Technology (DICT) earlier announced that the Philippines has placed its whole budget for the year on the blockchain, becoming the first country in the world to do so.

This system guarantees that every peso is recorded in a permanent and tamper-proof digital ledger, making fraudulent manipulations nearly impossible.

DICT Secretary Henry Aguda said the blockchain has digitized the entire budget cycle for this year’s budget, covering congressional approval, disbursement, expenditure, to reporting.

“Each transaction now comes with a digital seal of truth, verifiable by anyone, anytime, even decades from now,” he said.

PCCI, the country’s largest business group, said steering the national budget toward a trust-by-design model of governance ensures that public funds are managed with accountability.

The group this level of transparency in fiscal processes would be a “game-changer” for the country’s investment climate.

“By providing a verifiable audit trail, we are effectively reducing ‘country risk’ and signaling to the world that our country is a safe, transparent, and modern destination for business,” said Ferrer.

“This isn’t just a technological upgrade; it is a powerful tool for building global investor confidence,” he added.

Earlier, Ferrer urged the government to hold high-level personalities implicated in the multibillion-peso corruption scandal accountable to help improve the country’s image on the investment stage.

He noted that the failure to arrest the so-called “big players” could put to question the government’s credibility, which would have a consequential effect on investments.

This risks the country the critical opportunity to attract investments that would strengthen its hold in the global value chain.

Against this backdrop, putting the budget on the blockchain is a decisive step for the government to show investors that the country is addressing corruption from its source.

“We stand ready to work with government and stakeholders to ensure the success of this initiative,” added Ferrer.