worldcoinindex.com
Philippine Senator Bam Aquino has announced his intention to introduce legislation that would move the nation’s budgeting system onto a blockchain platform, a step he says could transform government transparency.
Speaking at the Manila Tech Summit on Wednesday, Aquino revealed that the proposal would require government transactions and allocations to be recorded on a blockchain ledger. “No one is crazy enough to put their transactions on blockchain, where every single step will be logged and visible to every citizen. But we want to start,” he told attendees.
Aquino later expanded on the idea in a Facebook post, describing blockchain-based budgeting as a tool to ensure “every peso is transparent and accountable.” He also acknowledged uncertainty about political backing for the measure but emphasized that the Philippines could become the first country to place its entire national budget on a blockchain system.
His comments follow recent moves by the Department of Budget and Management, which last month deployed a blockchain-powered document validation system on Polygon. The initiative, according to Undersecretary Maria Francesca Del Rosario, aims to combat AI-driven forgeries and ensure the integrity of government documents. It remains unclear whether Aquino’s proposal would integrate with that system.
Globally, blockchain applications in public administration are gaining traction. Earlier this week, U.S. Commerce Secretary Howard Lutnick disclosed plans to publish GDP data on blockchain, while in the Philippines, Congressman Miguel Luis Villafuerte has put forward a separate bill to create a strategic bitcoin reserve of 10,000 BTC over five years.
If Aquino’s measure advances, the Philippines could position itself as a pioneer in blockchain-driven governance.