Philippine Lawmaker Aims to Track Every Peso via Blockchain Technology

TLDR

• Senator Bam Aquino wants to put the Philippines’ entire national budget on a blockchain for transparency.

• The initiative builds on an existing system using Polygon to track government documents.

• The blockchain-based system will make every peso spent traceable in real time.

• The proposal aims to enhance public trust by making government spending fully transparent.

Philippine Senator Bam Aquino has announced plans to introduce a bill that would put the country’s national budget on a blockchain platform. This move is intended to improve transparency and accountability in the government’s financial operations. Aquino revealed his intentions at the Manila Tech Summit 2025, discussing how blockchain could be used to track every peso of public funds in real-time.

The senator emphasized that such a measure would enable citizens to see exactly how government money is being spent, increasing public trust. He expressed his belief that by integrating blockchain, the government can significantly enhance financial accountability. Aquino plans to submit the bill within the next few weeks.

Current Blockchain Usage in the Philippines

The proposal follows the launch of a blockchain-based document validation system in the Philippines, which is already being used by the Department of Budget and Management (DBM).

This system, which operates on the Polygon network, currently tracks select fiscal documents like Special Allotment Release Orders (SAROs), ensuring they are publicly accessible and verifiable.

The existing blockchain infrastructure gives the Philippines a solid foundation for expanding its use to cover the entire national budget. Developed by BayaniChain, the system ensures that government budget records are immutable and cannot be altered after being added to the blockchain.

Expanding the Blockchain System to Cover the National Budget

Senator Bam Aquino proposal to extend this system to cover the entire national budget would represent a monumental shift in how government finances are handled.

Currently, the system is limited to select documents. By using blockchain for the full budget, every financial transaction would be visible and verifiable in real-time by anyone with access.

This full-on-chain model would make government spending completely transparent, a move Aquino believes will help build stronger public confidence in the government. Aquino also pointed out that it would provide a clear and accessible record of government finances, which could reduce the potential for corruption and mismanagement.

Political Support and the Future of Blockchain in the Philippines

While Aquino’s blockchain proposal has gained attention, political support remains uncertain. Despite this, the proposal has sparked discussions on how blockchain can be used to improve governance.

If the bill is passed, the Philippines could become the first country to implement a fully blockchain-based government budget.

Aquino’s push for blockchain adoption reflects the country’s growing interest in the technology, as seen in the partnership between the Blockchain Council of the Philippines and the Department of Information and Communications Technology. Blockchain adoption is expected to continue growing, with the Philippines positioning itself as a potential leader in the blockchain space.

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