Philippine Senator Proposes Blockchain-Based National Budget for Transparency

Philippine Senator Bam Aquino is drafting legislation to migrate the country's national budget and financial transactions onto a blockchain platform. The move, announced at the Manila Tech Summit, aims to create an Immutable ledger for public oversight of government spending.

"No one is crazy enough to put their transactions on blockchain, where every single step of the way will be logged and transparent to every single citizen. But we want to start," Aquino stated. The proposal follows the Department of Budget Management's recent deployment of a blockchain document verification system.

If implemented, the Philippines WOULD become the first nation to host its entire budget on-chain. The senator acknowledged political hurdles but emphasized the transformative potential for accountability: "Every peso transparent and accountable" becomes possible through distributed ledger technology.