Bam Aquino wants nat’l budget, gov’t transactions on blockchain

MANILA, Philippines — Sen. Bam Aquino is proposing the use of blockchain technology to make the Philippine government’s financial transactions—and eventually the entire national budget—more transparent and accessible to the public.

Speaking at the Manila Tech Summit on August 27, Aquino said what he wants to see “eventually is that all government transactions and most importantly, the national budget will be on a platform that is fully transparent and can be checked by every single person.”

“No one’s crazy enough to put their transactions on blockchain where every single step of the way will be logged and transparent to every single citizen,” Aquino said. “But you want to start."

Though no formal bill has been filed yet, Aquino noted that the Philippines would be the first country to place its national budget on the blockchain if the proposal pushes through.

The senator acknowledged, however, the skepticism around adopting emerging technologies like blockchain and artificial intelligence at a time when many Filipinos still lack basics such as classrooms, textbooks and stable internet access.

“But by utilizing the right forms of technology—by making sure that this technology is available to more Filipinos and we’re able to use it the right way—we’ll be able, hopefully, to get the basics done and to jump a few steps towards the progress that we want,” he said.

What is blockchain?

Blockchain is a digital ledger technology best known for powering cryptocurrencies, but its potential extends far beyond digital money. It works by recording transactions in blocks that are permanently linked together, creating a “chain” that cannot be altered once verified.

Unlike traditional databases managed by a single authority, blockchain is decentralized: copies of the ledger are stored across multiple computers or nodes. This design makes it far more resistant to tampering and allows transactions to be verified by anyone with access.

Supporters say these qualities make blockchain useful for applications that require trust and accountability, from tracking goods in a supply chain to land registration—and, as Aquino suggested, government transactions and even the national budget.

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Blockchain in governance

Aquino noted that the Department of Budget and Management (DBM) has already taken steps toward exploring blockchain. Just last month, the agency launched a blockchain-based system for tracking public funds and government assets—the first of its kind in the country.

Through the system, the DBM has begun uploading key budget documents on the Polygon blockchain, including the Special Allotment Release Order (SARO) and the Notice of Cash Allocation (NCA). These documents, which indicate where public funds are allocated and when they are released, can now be viewed and verified by the public via blockchain.dbm.gov.ph.

Aquino said he envisions a future where all government transactions and the national budget itself could also be made accessible on a fully transparent platform.

“The good people in government need the systems around them to enable the good governance that they want to pursue,” he said, stressing that technology should form part of reforms to reduce corruption and inefficiencies in public spending.

The senator added that he hopes to build support for the proposal not only from his colleagues in the Senate but also from civic and technology groups such as the Fintech Alliance.Ph.