Philippines Might Become First Country to Put National Budget on Blockchain Under Senator Aquino’s Plan

Philippine Senator Proposes Full National Budget On Blockchain

Philippine Senator Bam Aquino has put forward a bold vision to place the country’s entire national budget on blockchain, aiming to give citizens the ability to track every peso spent by the government.

Speaking at the Manila Tech Summit on Wednesday, Aquino acknowledged the challenge, saying,

“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.”

He added that if realised, the Philippines could become the first country in the world to operate a fully blockchain-based national budget.

Building On Existing Blockchain Initiatives

The proposal is an extension of efforts already underway by the Department of Budget and Management (DBM), which has deployed a blockchain platform using Polygon to record select financial documents, including Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs).

The system, developed in partnership with local blockchain infrastructure firm BayaniChain, allows documents to be published and verified on a public blockchain, with data encryption and validation managed through an orchestration layer called Prismo.

Paul Soliman, BayaniChain’s co-founder and CEO, welcomed Aquino’s proposal but emphasised its limitations.

“While blockchain is not a silver bullet against corruption, it creates immutable records that ensure accountability from government officials.”

He stressed that the senator’s vision aligns with the firm’s mission to build more transparent and accountable systems in the Philippines.

Ambition Meets Practical Challenges

Despite its promise, placing an entire national budget on-chain poses significant technical and political challenges.

Expanding the DBM’s current system to cover all government spending would require major infrastructure development and legislative approval.

No formal bill has yet been filed, and Aquino himself admitted uncertainty over the level of political support he might receive.

Global Moves Into Blockchain Governance

The Philippines’ interest in blockchain governance reflects a growing global trend.

Countries such as Estonia have implemented blockchain for public records, Georgia uses it for land registries, and Brazil has piloted blockchain tools for public procurement.

However, no nation has yet succeeded in placing a full national budget on-chain.

The move also follows wider legislative initiatives in the Philippines related to digital assets.

Earlier this week, Congressman Miguel Luis Villafuerte introduced a bill to create a Strategic Bitcoin Reserve, aiming to accumulate 10,000 BTC over five years under a 20-year lockup period.

Transparency And Accountability At The Core

If realised, a blockchain-based budget system could provide real-time, tamper-proof tracking of government spending, enhancing public trust and simplifying auditing processes.

Aquino’s proposal builds on the DBM’s existing platform, which remains the first live on-chain budget system in Asia.

With governments increasingly exploring blockchain to improve transparency and reduce opportunities for misappropriation, the Philippines could set a new precedent in public finance.

Aquino’s push reflects both the potential of blockchain technology in governance and the country’s willingness to experiment with ambitious solutions, even as political and technical hurdles remain.