At the recent technology summit in Manila, Philippine Senator Bam Aquino proposed an idea that could radically change the approach to government financial reporting. It is to ensure that the entire national budget of the country is hosted on blockchain technology, offering an unprecedented level of transparency and accountability.

"It is quite difficult to find a person who would agree to openly report every financial transaction, making it accessible to everyone. Nevertheless, this is exactly where we should start if we want to achieve true openness," the senator stressed. In his opinion, every citizen of the Philippines should be able to monitor in real time how public funds are distributed, from the budget to specific projects.

Interestingly, this concept is not so far from reality. According to experts, the project has the opportunity to rely on an existing tool — the platform of the Ministry of Budget and Management of the Philippines (DBM), which partially implements blockchain for publishing financial information. This experience is already unique for the Asian region.

Technical support for this initiative is provided by BayaniChain, a local company that has created a platform for DBM. CEO Paul Soliman confirmed that the senator's views fully coincide with the company's philosophy of developing transparent and technologically advanced management systems. At the same time, Soliman cautiously notes that blockchain is not a panacea for corruption, but rather a tool that promotes data immutability and creates additional control mechanisms.

The initiative of the senator from the Philippines is a bold attempt to apply blockchain technologies to improve the transparency of public finances. However, the success of such an undertaking depends not only on the technological aspect, but also on the political will, the willingness of government agencies to be fully transparent and solve complex issues of integration with existing systems. The contrast between the desire for financial openness and the simultaneous tightening of controls in other areas of digital activity is particularly noticeable.