Philippine Senator Bam Aquino announced that he is preparing to propose a bill that would transfer the country’s national budget to a blockchain-based system. If passed, the Philippines could become the first nation to put its government budget on blockchain.
Speaking at the Manila Tech Summit, Aquino revealed that the proposed bill aims to record state transactions and budget management on blockchain. He emphasized that while the move may seem radical, it would ensure transparency as every step would be publicly accessible. Aquino added that such a system could allow every Philippine peso to be tracked in a transparent and accountable manner.
His remarks came shortly after the Department of Budget and Management launched a blockchain-based document verification system on the Polygon network. This initiative aims to prevent AI-generated fake documents and strengthen identity verification. Whether Aquino’s proposal will be connected to this system remains unclear.
The Philippines’ initiative also reflects a broader global trend. Recently, the U.S. Department of Commerce announced plans to publish economic data on blockchain. Meanwhile, another Filipino lawmaker proposed creating a strategic reserve of 10,000 Bitcoin within five years. These developments highlight how blockchain is expanding beyond cryptocurrencies, becoming increasingly vital in governance and economic policy.
