Senator Bam Aquino is advocating for the Philippines' national budget to be recorded on a blockchain platform, which he believes would enhance transparency and allow citizens to trace every peso spent. Speaking at the Manila Tech Summit, he emphasized that while blockchain alone won't eliminate corruption, it would create immutable records for accountability. Although a formal proposal has yet to be submitted, Aquino highlighted that this initiative could build on the Department of Budget and Management's existing blockchain platform, which currently logs select financial documents. BayaniChain, a local firm behind this platform, supports Aquino's vision for transparency but clarifies that they are not directly involved with his proposal. They aim to provide the necessary technology to link the department’s internal systems with a public blockchain. This setup intends to publish and verify key budgeting documents securely online, representing a significant stride in public financial management in the Philippines.

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