Philippines Explores Blockchain Transparency for National Budget and Bitcoin Reserve
Philippine Senator Bam Aquino plans to introduce a bill to place the national budget and financial transactions on a blockchain platform to enhance transparency and public oversight. The initiative aims to make every peso “transparent and accountable” and could integrate with existing government blockchain systems. The Philippines is also exploring a strategic Bitcoin reserve, with a proposed acquisition of up to 10,000 BTC over five years to diversify national reserves and support financial stability. These efforts follow recent blockchain initiatives, including a government document verification system using the Polygon network.