The system of the system is going to ensure the technological company Bayanichain. Through the platform, it will be possible to track state budget documents, including orders on the allocation of state centers and notifications of the distribution of budget money. Bayanichain CEO Paul Soliman said that the blockchain will act as a public database that cannot be edited.
Data on government documents will be stored on the Polygon network, protected from unauthorized access. People will be able to check their authenticity without disclosing confidential information. To confirm the legality of documents, users will be able to scan QR codes on a special site or enter documents codes manually.
Deputy Head of the Ministry of Finance, Filippin Maria Francesca Montes del Rosario (Maria Francesca Montees Del Rosario) said that the government wants to protect the document management from fake documents and dipfaces created using artificial intelligence (AI).
When the Filipino government announced the blockchain Initiative, a short-term failure occurred in Polygon. On Wednesday, July 30, the main network Polygon Heimdall V2 for three and a half hours was out of order. The Polygon team explained this by a possible mistake of consensus.
In June, the Securities and Exchange Commission of the Philippines (SEC) ordered each supplier of cryptocurrency services to register in the department as a joint -stock company with a capital of at least $ 1.8 million.
Source: Bits

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