Senator Plans Bill to Move Philippines’ National Budget onto Blockchain

Highlights:

• Senator Bam Aquino plans a bill to move the national budget onto blockchain.
• The proposed legislation aims to increase transparency and track public funds efficiently.
• If approved, the Philippines could become the first country to fully digitize budgeting.

Philippine Senator Paolo Benigno “Bam” Aquino IV, also known as Bam Aquino, announced plans to introduce a new bill that would move the country’s national budget onto a blockchain system, according to reports from local media. At the Manila Tech Summit on Wednesday, Aquino shared that he intends to formally file the legislation within the next few weeks. The proposed bill aims to shift government budgeting and financial transactions onto a blockchain platform, which he said would help improve transparency and make public funds easier to track.

Philippine Senator Bam Aquino proposed at the Manila Tech Summit to put the national budget on-chain so citizens can trace government spending. The plan would expand on the DBM’s current blockchain platform, which already records some financial documents on Polygon.…

— Wu Blockchain (@WuBlockchain) August 28, 2025

Aquino noted that if the plan moves forward, the Philippines could become the first country to place its national budget on a blockchain. He expressed optimism that the country might achieve this milestone. However, he also acknowledged uncertainty about whether the proposal would gain enough political support. The senator pointed out that the Philippines already has some experience with blockchain in public administration. 

Blockchain Moves in Government Budgeting

The Department of Budget and Management, for example, has developed an on-chain budget platform, the first in Asia, that allows certain financial documents to be recorded and shared for public verification. The platform, introduced earlier this year, was built by Philippine blockchain firm BayaniChain. Its development involved collaboration with Prismo, which provides the orchestration layer, and Polygon, functioning as the public blockchain ledger. At present, the platform hosts only essential budgetary documents, including Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs), to maintain secure and tamper-proof records.

There is currently no information on whether the existing platform could be scaled to manage the entire national budget. It is also unclear if a completely new system would need to be developed for such a large-scale implementation. For now, Senator Aquino’s plan continues to exist as an idea, building on existing systems. No one has submitted a formal proposal yet, keeping the plan in early discussion stages.

Governments around the world are increasingly looking into blockchain technology for use in public sector operations. On Tuesday, U.S. Commerce Secretary Howard Lutnick revealed that the department plans to release important economic data through blockchain technology. The rollout will start with publishing gross domestic product (GDP) statistics.

BREAKING: U.S. Commerce Secretary Lutnick announces that the U.S. will be issuing economic data on blockchain, beginning with GDP data.

The U.S. government is officially embracing blockchain technology.

— The Kobeissi Letter (@KobeissiLetter) August 26, 2025

Philippines Proposes Strategic Bitcoin Reserve

Meanwhile, A lawmaker in the Philippines has put forward a bill aimed at creating a strategic bitcoin reserve, with a target accumulation of 10,000 BTC. House Bill 421, introduced by Congressman Miguel Luis Villafuerte, proposes that the country’s central bank, Bangko Sentral ng Pilipinas, purchase 2,000 bitcoin each year for the next five years. The plan also suggests storing these holdings in cold storage for a minimum of 20 years. The congressman emphasized that the growing global importance of bitcoin in strengthening financial and economic influence makes it necessary for the country to take decisive legislative steps.

Philippine Congressman Migz Villafuerte has filed House Bill 421, proposing the establishment of a Philippine Strategic Bitcoin Reserve. The bill calls on the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 Bitcoin annually for five years — a total of 10,000 BTC — and hold… pic.twitter.com/EVrroiMg8j

— Wu Blockchain (@WuBlockchain) August 22, 2025