Philippine Senator Bam Aquino has announced his desire to suggest a bill that will lead to the country’s national budget saving to a blockchain.
According to a Facebook Post Through the local Publication BusinessWorld, Aquino plans to file a bill for the next few weeks. ” The steps will “include the government’s budget and transaction on a blockchain platform for better transparency.”
In a dedicated Facebook post, Aquino recounted that he was talking about how technology could “boost management responsibility” during the Manila Tech Summit 2025. He also said he spoke about blockchain technology specifically:
“I also talked about innovation innovations such as a blockchain-based budget to make every peso transparent and responsible. By using a blockchain for our budget, we can make sure people know where every peso goes.”
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The growing blockchain of the Philippines
This is not the first such initiative in the Philippines. By the end of July, the Philippine government Launched a Blockchain -based verification system in PolygonDespite the network suffering a slight flow on the same day.
Developments complied with the local nonprofit blockchain Council of the Philippines (BCP), which Working with the Department of Information and Communications of Technology To rule the local blockchain adoption through a state cooperation in 2023. In an interview with cointelegraph held that day, BCP founder Donald Lim claimed that the Philippines is likely to adopt a blockchain:
“We feel strongly that we can be Asian capital’s blockchain capital.”
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Government blockchain adoption continues to grow
Blockchain government’s adoption, which aims to ensure transparency by providing always available and unchanged notes, obtains traction. Earlier this month, US Secretary of Commerce Howard Lutnick said the commercial department was Start publishing economic statistics, including gross domestic product data, onchain.
The initiative complies with previous US state initiatives, such as a New Jersey County Tokenizing $ 240 Billion worth of Working Work or a member of the New York assembly suggests to check how blockchain can help protect voter records and election results. A similar initiative in that in New York was also seen in India, where the management of a town has been oding all the ground notes since the 1950s and They are stored in Avalanche Blockchain.
Another recent example is Vietnam‘S Launching a National Blockchain platform Designed to verify digital transactions and notes in different sectors last month.
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