Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

DPWH commissions digital ledger to track foreign-funded projects

RAWPIXEL.COM-FREEPIK

THE Department of Public Works and Highways (DPWH) said it tapped Blockchain Council of the Philippines (BCP) to develop a blockchain digital ledger that will track foreign-assisted infrastructure projects.

“By placing our foreign-assisted projects  — those funded by Official Development Assistance (ODA) — on the Integrity Chain, we welcome the scrutiny of the private sector, academe, and civil society. This is DPWH’s strong response to the President’s directive to ensure transparency and accountability is enforced for its projects,” Public Works and Highways Secretary Vivencio B. Dizon said on Tuesday.

On Tuesday, the DPWH and BCP — a non-stock, non-profit organization of blockchain professionals and advocates, signed the memorandum of agreement to launch the Integrity Chain.

Integrity Chain will embed, digitize, and secure key data on selected national projects which will be made available to the public.

The data to be made available include budgets, procurement processes, and construction milestones, Mr. Dizon said.

“The Integrity Chain aims to transform infrastructure governance by offering a real-time public dashboard that tracks project spending and progress, enabling citizen feedback and anomaly reporting, and providing tamper-proof records to deter corruption,” the DPWH said.

The BCP said it hopes to have the Integrity Chain available within 60 days.

“In the coming weeks, we will gather all representatives of each organization. We are going to set up a technical working group,” BCP President Donald Patrick L. Lim told reporters.

In September, Senate Bill No. 1330 was filed by Senator Paolo Benigno A. Aquino IV calling for the use of the blockchain for the budget process.

The DPWH is currently engulfed in scandal due to substandard or non-existent flood control projects, and is under pressure to make public works procurement more transparent.

President Ferdinand R. Marcos, Jr. said 15 contractors cornered more than P100 billion worth of flood control projects between July 2022 and May 2025.

Last week, the DPWH asked the Anti-Money Laundering Council (AMLC) to freeze billions of pesos worth of aircraft and vehicles belonging to persons connected to the flood control projects.

In particular, the DPWH asked AMLC to freeze aircraft valued at P4.7 billion associated with Party-list Rep. Elizaldy S. Co and certain companies, such as Misibis Aviation and Development Corp. and Hi-Tone Construction and Development Corp., which was founded by his brother Christopher S. Co.

Hi-Tone and Sunwest, Inc. founded by Rep. Co were among the 15 contractors found to have won multiple flood-control projects.

On Tuesday, Mr. Dizon said the Civil Aviation Authority of the Philippines (CAAP) informed the DPWH that Rep. Co had tried to de-register his aircraft as a preliminary to their disposal.

“I have received new reports from CAAP that there were attempts to deregister three choppers,” he said.

“CAAP said you cannot sell the aircraft to anyone unless they are deregistered.”  — Ashley Erika O. Jose

    You May Also Like

    Stock Markets

    Pedestrians along the Estrella-Pantaleon Bridge are dwarfed by the towering buildings in Makati City, Dec. 5, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Department...

    Finance

    Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

    Finance

    Formula 1 drivers Isack Hadjar and Liam Lawson of the Visa Cash App Racing Bulls (VCARB) team have taken an unusual step to thank...

    Finance

    A new player in football talent management has entered the game. M+C Saatchi Football, co-founded by former England and Liverpool midfielder Jamie Redknapp, officially...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.