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Key Takeaways
Senator Bam Aquino to File Bill Soon – Aquino plans to introduce legislation within weeks to place the national budget and transactions on a blockchain platform for complete public visibility.
Building on DBM’s Blockchain System – The proposal expands on the Department of Budget and Management’s existing blockchain initiative, which logs fiscal documents like SAROs and NCAs.
Aiming for Global First in Governance Transparency – If passed, the Philippines would become the world’s first country to host its entire national budget on-chain, setting a precedent for accountable governance.
At the Manila Tech Summit, Senator Bam Aquino unveiled a proposal to record the entire Philippine national budget on a blockchain platform.
Overview
In a Facebook post, local outlet BusinessWorld reported that Aquino intends to submit the bill
“within the coming weeks.”
The proposal aims to place the government’s budget and financial transactions on a blockchain system to enhance transparency.
The idea is to harness blockchain’s immutability so that the public can trace every peso in real time, from allocation to disbursement. Aquino acknowledged the initiative’s boldness, humorously noting that
“no one is crazy enough to put their transactions on blockchain,”
yet underscored that
“every single step of the way will be logged and transparent to every single citizen.”
While the proposal has not been formally submitted, plans are underway to file the bill in the coming weeks. If enacted, the Philippines would become the first country in the world to place its entire national budget on-chain—taking transparency and public accountability to unprecedented heights.
Building on Existing Infrastructure: DBM’s Blockchain Foundation
This envisioned digital overhaul is not starting from scratch. The Department of Budget and Management (DBM) already runs Asia’s first blockchain-based budget platform, which logs key fiscal documents like Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs). Built in collaboration with local blockchain firm BayaniChain, the system connects internal DBM processes to the public Polygon network, using an orchestration layer—named Prismo—for encryption, validation, and data handling.
Launched late July 2025, the platform embeds cryptographic fingerprints into documents, allowing citizens to verify authenticity via QR codes or reference numbers—guarding against forgery in an era of AI manipulation. BayaniChain’s CEO, Paul Soliman, emphasises that although blockchain alone isn’t a cure-all for corruption, its immutable records provide an essential safeguard to hold public officials accountable.
Opportunities and Obstacles: Transparency Meets Political Reality
Should the bill pass, its impact could reverberate worldwide: the Philippines might pioneer a fully on-chain national budget, setting a global example in transparent governance. Supporters see this as a chance to empower citizens and civil society groups to monitor public spending with unmatched granularity.
Yet the path forward is not without hurdles. Lawmakers must muster political support for a sweeping reform of the public finance system. Integrating blockchain into existing bureaucratic workflows poses technical and administrative challenges—requiring robust infrastructure, citizen access, and institutional buy-in.
Scalability, data accuracy, and digital literacy also loom as significant concerns. Moreover, while the US is exploring blockchain for official data—such as the Department of Commerce’s plan to publish GDP via blockchain—those efforts remain limited in scope. The Philippines’ vision, by contrast, aims for full coverage of its national budget.
A fully blockchain-based national budget would represent a revolutionary step toward fiscal openness in the Philippines—blending technological innovation with public empowerment. Yet achieving such a vision depends as much on political will and operational readiness as on the promise of digital transparency.