In a rather audacious display of modernity, Philippine Senator Bam Aquino has announced his intention to propose a bill that would see the national budget ensconced within the digital embrace of a blockchain. One can only imagine the thrill of watching pesos dance across the ether, all while ensuring that no one can abscond with the public purse-at least, not without leaving a digital trail as clear as a summer’s day.
According to a rather enthusiastic Facebook post by the local news publication BusinessWorld, Aquino plans to file this bill āin the next couple of weeks.ā One can only hope that the weeks do not stretch into months, as is often the case with such grand proclamations. The measures, if they come to fruition, would āintegrate the governmentās budget and transactions into a blockchain platform for better transparency.ā Because, of course, what could be more transparent than a ledger that everyone can see but no one can understand? š
In a dedicated Facebook post, Aquino recounted his musings on how technology can āstrengthen accountability in governanceā during the Manila Tech Summit 2025. He waxed lyrical about blockchain technology, specifically:
āI also talked about innovations like blockchain-based budgeting to make every peso transparent and accountable. By using blockchain for our budget, we can ensure people know where every peso goes.ā
The Philippinesā Growing Blockchain Adoption
This is not the first such initiative in the Philippines, mind you. At the end of July, the Philippine government launched a blockchain-based document validation system on Polygon, despite the network suffering a partial outage on the same day. Ah, the irony! Nothing says ātrust usā quite like a system that falters on its very debut.
The developments followed the local nonprofit Blockchain Council of the Philippines (BCP), which partnered with the Department of Information and Communications Technology to lead local blockchain adoption through a state partnership in 2023. In an interview with CryptoMoon held that summer, BCP founder Donald Lim claimed that the Philippines was likely to adopt blockchain:
āWe feel very strongly that we can be the blockchain capital of Asia.ā
Blockchain Adoption by Governments Keeps Growing
Government adoption of blockchain, primarily aimed at ensuring transparency by providing always-available and immutable records, is gaining traction. Earlier this month, US Commerce Secretary Howard Lutnick announced that the Department of Commerce will begin publishing economic statistics, including gross domestic product data, onchain. Because nothing says āeconomic stabilityā like a public ledger, right?
This initiative follows past US state initiatives, such as a New Jersey county tokenizing $240 billion worth of property deeds or a New York Assembly member proposing to evaluate how blockchain could help protect voter records and election results. A similar initiative to that in New York was also seen in India, where the administration of a town digitized all land records dating back to the 1950s and stored them on the Avalanche blockchain. One can only hope they remembered to back it up-after all, who doesnāt love a good digital disaster?
Another recent example is Vietnamās launch of a national blockchain platform designed to verify digital transactions and records across various sectors last month. It seems the world is racing towards a future where every transaction is recorded, and every peso is accounted for-if only we could apply the same rigor to our politiciansā promises!
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2025-08-28 16:53