Philippine Senator Bam Aquino announced his intention to propose a bill aimed at storing the national budget on the blockchain.

According to local news media BusinessWorld posted on Facebook, Aquino plans to submit the bill "in the coming weeks." The measure aims to integrate government budgets and transactions into a blockchain platform for greater transparency.

Aquino stated in a Facebook post that he discussed how technology can strengthen governance accountability at the 2025 Manila Tech Summit. He also noted that he specifically discussed blockchain technology:

This is not the first time the Philippines has pushed for such initiatives. At the end of July this year, the Philippine government launched a blockchain-based document verification system on Polygon, although the network experienced some issues that day.

Previously, the Philippine Blockchain Council (BCP) collaborated with the Department of Information and Communications Technology. Since 2023, both parties have been promoting regional blockchain applications together. In an interview with Cointelegraph that summer, BCP founder Donald Lim stated that the Philippines is very likely to adopt blockchain:

Governments around the world are adopting blockchain technology primarily to enhance transparency by providing verifiable and tamper-proof records, and this trend is accelerating. Earlier this month, U.S. Secretary of Commerce Howard Lutnick stated that the Department of Commerce would begin to publish economic statistics, including Gross Domestic Product (GDP) data, on the blockchain.

This initiative continues the previous attempts by various U.S. states. For example, a county in New Jersey tokenized real estate deeds worth $24 billion. A New York state legislator proposed assessing how blockchain could help protect voter records and election results. India also has similar initiatives, with a local town government digitizing and storing all land records dating back to the 1950s on the Avalanche blockchain.

Another recent case is Vietnam, which launched a national-level blockchain platform last month for cross-industry verification of digital transactions and records.

Related: 92 crypto-related ETPs are in the application process: "The floodgates are about to open."

Original article: “Philippine Lawmaker Proposes to Incorporate Government Budget into Blockchain Management”

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