Key Takeaways:

• Department of Budget and Management (DBM) launches Project Marissa to fortify budget document security.
• The initiative led by Undersecretary Maria Francesca Del Rosario employs blockchain technology in a sandbox environment.
• Hacktiv and Bayanichain wrap up initial development phase, signaling readiness for the project’s next stage.

The Philippines’ Department of Budget and Management (DBM) has initiated Project Marissa, a blockchain-based venture designed to elevate the security protocols surrounding budget data. This is according to the document from blockchain company Bayanichain reviewed by BitPinas.

Introduction to Project Marissa

Project Marissa is a joint effort between DBM, Hacktiv, Bayanichain, and Microsoft Azure. The system will likely Prublic, a hybrid blockchain technology developed by Bayanichain that integrates Polygon PoS and Azure Confidential Ledger.

Spearheaded by Undersecretary and Chief Information Officer Maria Francesca Del Rosario, the project aims to integrate blockchain into the Action Document Releasing System (ADRS) for more secure and efficient operations.

The project pays homage to Marissa Santos, Division Chief of DBM Administrative Service (AS)-Central Records Division, through its naming, recognizing her efforts in tightening document validation controls within the DBM.

Enhance Security Through Blockchain

Paul Soliman, Microsoft’s MVP for Business Applications & Regional Director, Founder of Hacktiv, and Co-Founder of Bayanichain, detailed that Project Marissa will be segmented into four distinct parts to ensure organized and systematic development.

Central to Project Marissa is the utilization of blockchain technology to heighten the security levels of critical budget documents like the Special Allotment Release Orders (SARO) and Advice of Notice of Cash Allocation Issued (ANCAI).

• The Special Allotment Release Order (SARO) is a permission that allows certain government agencies to spend up to a set amount of money for a specific reason within a certain time period.
• The Advice of Notice of Cash Allocation Issued (ANCAI) is a document that signifies the release of cash funds to a particular government agency or office.

Blockchain Milestones and Progress

Hacktiv and Bayanichain have already concluded the prototype’s development and solutioning phase, setting the stage for the next cycle of the project.

• In the document read by BitPInas, for the forthcoming phase, the focus will shift to minting SARO documents to Polygon PoS using an ERC721-derived contract.
• Unlike conventional techniques, the team is set to employ an ‘inscription’ approach, which is said to further advancements in security and operational efficiency.

Another important feature is the integration of Microsoft’s Azure Confidential Ledger into the system, ensuring data confidentiality and resistance to tampering.

“Project Marissa stands as a testament to the Philippine government’s commitment to harnessing cutting-edge technology to enhance public service. As the nation progresses, such initiatives lay the groundwork for a transparent, efficient, and trustworthy administrative system”

Paul Soliman, Co-Founder, Bayanichain

Previous Blockchain Efforts of DBM

In 2018, BitPinas reported about a previous blockchain initiative from the Budget Department.

At that time, then-Budget Secretary Benjamin Diokno said blockchain could be a better way to track procurements compared to utilizing big data systems.

“Our initial implementation of blockchain is on our stock inventory systems after procurement,” the Budget Department told BitPinas in 2018.

This article is published on BitPinas: Department of Budget and Management Launches Blockchain Project With Bayanichain

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• Source: https://bitpinas.com/business/budget-department-bayanichain-blockchain-project/