Philippine Senator Proposes Putting State Budget on Blockchain
Date: 2025-08-28 Author: Henry Casey Categories: BLOCKCHAIN, IN WORLD
Philippine Senator Bam Aquino has proposed placing the country's state budget on the blockchain so that each transaction can be tracked by citizens. He announced this at the Manila Tech Summit, emphasizing that the goal of the project is to make financial flows as transparent as possible. "We want every Filipino to be able to see where the funds are going," the politician noted. If the project is implemented, the Philippines could become the first country in the world to use blockchain to publish a national budget.
In addition to budget issues, Aquino also touched on the topic of online gambling, calling it an abuse of citizens' trust. The senator announced tighter controls, including blocking access to gambling through mobile applications and websites.
Experts note that Aquino's initiative could be based on the platform of the Department of Budget and Management (DBM), which already publishes some financial documents on the blockchain. This system became the first budget platform of this level in Asia. Local company BayaniChain, which created DBM, expressed support for the senator's proposal, although it does not directly cooperate with him.
BayaniChain co-founder and CEO Paul Soliman noted that Aquino's vision is fully consistent with the company's approach - creating transparent and accountable government systems. He emphasized that blockchain is not a universal means of fighting corruption, but it provides immutable records and control over the actions of officials. BayaniChain is also developing technology for integrating the internal DBM system with a public blockchain, which will combine internal and open access to data.
Earlier, in August 2025, the Securities and Exchange Commission of the Philippines announced plans to block ten crypto exchanges operating without a license in the country. These measures are expected to help strengthen financial discipline and control over digital assets in the region.
Aquino's initiative reflects a global trend towards using blockchain for government needs and strengthening public confidence in public spending. If the project is successfully implemented, the Philippines will be able to demonstrate a model of transparent budget management that can become an example for other countries.
The overall effect of introducing blockchain into public finances, according to experts, is to strengthen control, minimize corruption risks and increase the openness of government operations to citizens.
