Philippine Senator Bam Aquino suggested recording national budget transactions on a blockchain so citizens could track every flow of funds, according to Odaily Planet Daily. He said: "No one would be willing to put transactions on a chain that everyone can track, but we want to try."

No formal bill has been submitted yet. If implemented, the plan would be based on the blockchain platform already launched by the Philippines Department of Budget and Management (DBM), which is the first in Asia to put some fiscal documents on the blockchain.

The platform is powered by BayaniChain, a local blockchain infrastructure company. Its CEO, Paul Soliman, noted that while blockchain is not a panacea for corruption, it can enhance accountability through immutable records. The DBM's existing system utilizes the Polygon PoS network as a transparency and consensus layer, allowing budget documents such as Special Allocation Orders (SAROs) and Cash Disbursement Notices (NCAs) to be publicly verifiable. (Decrypt)