Senator Proposes Blockchain Budgeting for Transparency in the Philippines

Philippine Senator Bam Aquino plans to introduce a bill that would move the national budget onto a blockchain platform for greater transparency. This proposal, designed to enhance accountability and public oversight, aims to improve financial operations within the country’s government. Blockchain technology is seen as key to achieving this goal. The bill will be formally submitted in the coming weeks after initial testing and discussions with stakeholders. While the project has gained momentum following early pilot tests on blockchain for selected financial documents, its full-scale implementation remains uncertain. Aquino acknowledged the need for robust political support before this initiative can proceed, particularly as it presents a novel approach to national budgeting.