Filipino Senator Bam Aquino announced his intention to propose a bill that would lead to the national budget of the country that is saved in a block chain.
According to a Facebook mail According to local news publication, Businessworld, Aquino plans to present the bill “in the next two weeks.” The measures “would integrate the government budget and transactions into a blockchain platform for better transparency.”
In a dedicated Facebook publication, Aquino said that he talked about how technology can “strengthen responsibility in governance” during the Manila 2025 Technology Summit. He also said he spoke specifically about Blockchain technology:
“I also talked about innovations such as the Blockchain -based budget to make each weight transparent and responsible. By using blockchain for our budget, we can make sure people know where each weight is going.”
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The growing adoption of Blockchain of the Philippines
This is not the first initiative of this type in the Philippines. At the end of July, the Filipino government launched a document validation system based on Blockchain in Polygon, although the network suffered a partial interruption the same day.
The developments followed the Blockchain Council without a local profit in the Philippines (BCP), which was associated with the Department of Information and Communications Technology to lead the local Blockchain adoption through a state association in 2023. In an interview with Cointelegraph held that summer, the founder of BCP, Donald Lim, said that the Philippines will probably adopt Blockchain ::::::::::::::::::::::::::::::::::::
“We feel very firmly that we can be the Blockchain capital of Asia.”
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Blockchain’s adoption by governments continues to grow
Blockchain government adoption, mainly aimed at guaranteeing transparency by providing always available and immutable records, is gaining traction. Earlier this month, the United States Secretary of Commerce, Howard Lutnick, said the Commerce Department will begin publishing economic statistics, including data from Gross Internal Products, Ochain.
The initiative remains beyond the US state initiatives. UU., As a token of the New Jersey County, tokenizing of $ 240 billion in property deeds or a member of the New York Assembly that proposes to evaluate how Blockchain could help protect the voter records and electoral results. There was also an initiative similar to that of New York in India, where the administration of a city digitized all the land records dating from the 1950s and stored them in the avalanche block chain.
Another recent example is the launch of Vietnam of a National Blockchain platform designed to verify transactions and digital records in several sectors last month.
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