Philippine Senator Proposes Blockchain-Based National Budget for Transparency
2 Mins Read
Philippine Senator Bam Aquino has announced plans to file a bill that would put the country’s national budget on a blockchain, aiming to enhance transparency and accountability in government spending.
Blockchain for Government Transparency
According to a Facebook post by BusinessWorld, the proposed legislation will integrate the government’s budget and transactions into a blockchain platform. This move is designed to ensure real-time public visibility of how funds are allocated and spent.
In his statement, Senator Aquino emphasized the role of technology in strengthening accountability within governance. During the Manila Tech Summit 2025, he stated:
“By using blockchain for our budget, we can ensure people know where every peso goes.”
This is not the first government-backed blockchain initiative in the country. In July 2025, the Philippine government launched a blockchain-based document validation system on Polygon, despite a partial network outage on the same day.
Additionally, the Blockchain Council of the Philippines (BCP), in partnership with the Department of Information and Communications Technology, has been spearheading efforts to make the Philippines a leading hub for blockchain adoption. BCP founder Donald Lim previously stated:
“We feel very strongly that we can be the blockchain capital of Asia.”
Global Trend of Blockchain in Governance
The Philippines’ move aligns with a global trend where governments leverage blockchain for transparency. Recent examples include:
US Commerce Department planning to publish GDP and economic statistics onchain.
New Jersey county tokenizing $240 billion worth of property deeds.
Vietnam launching a national blockchain platform for verifying digital transactions.
India digitizing land records and storing them on Avalanche blockchain.
These initiatives highlight the increasing trust in blockchain’s immutability and accessibility for public data security.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
