Developed with the Department of Budget and Management, this deployment secures budget releases and financial records on blockchain. It provides an immutable audit trail for public funds, enabling transparent tracking and real-time verification by oversight bodies and partner agencies.
The Department of Budget and Management manages hundreds of billions in fund releases each year, supported by complex coordination between agencies. Paper-based workflows and manual reconciliation often delay validation, increase administrative overhead, and limit real-time visibility into fund movement.
Different departments operate on separate systems, making it difficult to confirm which version of a document is final or whether approvals were properly completed. The absence of an immutable audit trail weakens oversight and increases the risk of duplication, errors, or disputes over accountability.
BYC Ventures, through its Lumen platform, introduced blockchain technology into the DBM’s Automated Document Routing System (ADRS). The integration anchors budget release documents, such as Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs), onto blockchain to ensure integrity and traceability.
Each record generated within the ADRS is timestamped, verified, and stored as a Digital Public Asset (DPA), providing permanent proof of issuance and preventing unauthorized alterations. This integration creates a single verifiable source of truth across agencies while maintaining compliance with data privacy and information security standards. Through Lumen and the DPA framework, DBM now has a transparent and tamper-proof foundation for managing and auditing public fund releases.
