TECH NEWS | Bam Aquino pushes blockchain plan for budget transparency
Aquino confirmed that he had filed a bill in the Senate to create a National Budget Blockchain System, which would allow Filipinos to trace allocations and disbursements of government funds in near real time.
blocks of binary data. Blockchain concept. blue background with computer digital binary code bit number one and zero text. selective focus on the far end of the computer display out of focus in front.
Philippine Senator Bam Aquino has moved to put the country’s national budget on a blockchain, a technology more commonly associated with cryptocurrencies, in an effort to boost transparency and public oversight.
In late August 2025, Aquino confirmed that he had filed a bill in the Senate to create a National Budget Blockchain System, which would allow Filipinos to trace allocations and disbursements of government funds in near real time. Media outlets including Philstar, Yahoo Finance, and Cointelegraph reported on the measure, citing Aquino’s push to make the budget “saved on a blockchain” so that every citizen could follow how money was being spent.
Aquino is no stranger to tech-focused legislation. He co-authored Republic Act 11337, known as the Innovative Startup Act, in 2019. That law created incentives and support programs for Philippine startups, underlining his focus on digital innovation and governance. His office has consistently framed technology as a tool to improve public service and accountability.
The idea of placing the budget on a blockchain has drawn both interest and skepticism. Supporters argue that a blockchain-based ledger could make every change to budget records auditable, reducing opportunities for quiet alterations after approval. A public or permissioned blockchain could also allow journalists, auditors, and ordinary citizens to verify allocations without waiting for periodic government reports. In interviews reported by Philstar and Yahoo Finance, Aquino stressed that transparency is at the heart of the proposal, suggesting that blockchain could serve as a deterrent to corruption.
At the same time, experts caution that blockchain is not a cure-all. Scholars and industry analysts note that while blockchain provides tamper-resistant and traceable records, it cannot guarantee the truthfulness of the information being inputted. As technology researchers often describe it, “garbage in, garbage out” still applies. An immutable ledger will only be as reliable as the data it records. International studies on blockchain, including those highlighted by Cointelegraph and other outlets, point to technical constraints such as scalability, throughput, and energy use. Philippine commentators also emphasize that governance and institutional reforms remain crucial to make such a system effective.
The proposal also arrives in the middle of a wider regulatory shift around digital assets in the Philippines. The Bangko Sentral ng Pilipinas has been regulating crypto exchanges and piloting a wholesale central bank digital currency called CBDCPh. Meanwhile, the Securities and Exchange Commission has drafted rules covering crypto-asset service providers, with stronger licensing and anti-money laundering safeguards. BusinessWorld and Inquirer reports note that industry groups in the House of Representatives have also been discussing a blockchain-based approach to budget transparency, showing that Aquino’s idea may gain bicameral traction.
For now, the key question will be how such a system might be implemented. Policy experts note that blockchain’s benefits depend on design choices, including whether the chain is public or permissioned, how quickly data is updated, and how sensitive information is redacted. Aquino’s proposal reflects a growing demand for fiscal accountability in the post-pandemic era, but its success will likely depend on how government agencies like the Department of Budget and Management and the Commission on Audit integrate the system into their existing processes.
Analysts say the initiative highlights a larger trend: the Philippines’ balancing act between embracing digital innovation and addressing the risks that come with it. Blockchain could strengthen transparency in principle, but as Inquirer, Philstar, and Cointelegraph reports all suggest, it will be institutions and political will that ultimately decide whether Filipinos see a more open budget or simply another layer of digital complexity.
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