The Philippine government is making significant strides in leveraging blockchain technology, shifting its focus beyond regulating cryptocurrencies to actively implementing distributed ledger technology (DLT) across critical public sectors.
Through a series of high-impact projects, government agencies are exploring blockchain’s potential to enhance transparency, improve bureaucratic efficiency, and expand financial access for citizens.
Also Read: Institutionalising innovation: How Philippines is building the rules for its crypto future
These findings were revealed in the Philippine Blockchain Report 2025, prepared by Gorriceta, the Blockchain Council of the Philippines, Gobi Partners, Gobi-Core Philippines Fund, and Tether.
Revolutionising public finance and document security
Government adoption is projected to be a pivotal factor in shaping the country’s future blockchain landscape. One key area of implementation is enhancing the security and accountability of public documents:
- Project Marissa and Prismo: The Department of Budget and Management (DBM) launched Project Marissa, a blockchain-based initiative aimed at enhancing the security of budget documents. Leveraging hybrid blockchain technology from local firm BayaniChain, the system seeks to ensure data confidentiality and tamper-resistance. A functioning Minimum Viable Product (MVP), Prismo, has already been implemented within the DBM to safeguard critical documents, including the controversial intelligence fund, demonstrating a clear commitment to using DLT for fraud reduction.
- eGovChain initiative: The Department of Information and Communications Technology (DICT) introduced eGovChain in 2024, a major blockchain-based government project intended to improve transparency, security, and efficiency in public services. The first node is already integrated with the Digital National ID and the eGovPH SuperApp, with additional nodes planned.
Tokenisation and financial modernisation
In public finance, the government has successfully piloted the use of blockchain for tokenised assets, signalling institutional confidence in the technology’s utility:
Also Read: The rise of the Metaverse Filipino Worker: Blockchain’s unlikely economic hero
- Tokenised treasury bonds: In partnership with the Philippine Digital Asset Exchange (PDAX), the Bureau of the Treasury (BTr) issued the nation’s first Tokenised Retail Treasury Bonds (RTBs) to the public. These bonds are issued in the form of digital tokens and maintained in the BTr’s Distributed Ledger Technology (DLT) Registry. This initiative not only modernises public fundraising but also democratises access to government investments, particularly through features like the “GBonds” feature being tested with GCash.
- CBDC development: The BSP is strategically moving towards implementing a wholesale Central Bank Digital Currency (CBDC). Projects like Project CBDCPh and Project Agila are pilot initiatives testing interbank transactions to improve payment systems, liquidity management, and financial stability. Testing for Project Agila concluded in December 2024, and the BSP plans to develop a medium-term roadmap for wholesale CBDC, with estimated implementation by 2029.
Special economic zones and regional development
To attract foreign investment and foster a localised blockchain hub, the Philippines leverages its special economic zones:
- Authority of the Freeport Area of Bataan (AFAB): AFAB introduced the Offshore Digital Asset Licence (ODAL), allowing blockchain-based businesses to operate within a regulated framework, positioning Bataan as a potential blockchain hub in Asia. AFAB actively supports emerging industries and views blockchain as a practical tool for building better systems.
- Cagayan Economic Zone Authority (CEZA): CEZA, known for its “Crypto Valley of Asia” initiative, has continuously updated its licensing rules. The Offshore Financial Technology Licensing Rules and Regulations (OFTLRR), issued in January 2024, update previous rules to integrate both offshore financial technology business activities (including blockchain) and Digital Asset Token Offering (DATO) activities.
Also Read: How blockchain became the beating heart of Philippines’s financial inclusion story
These varied initiatives across MARINA (Blockchain-enabled system for transactions – BEST, enhancing maritime services), DICT, DBM, BTr, and the BSP underscore a robust public sector openness to DLT. By moving from theoretical exploration to operational pilots, the government is building trust, enhancing public awareness, and demonstrating blockchain’s tangible value in reducing corruption and administrative delays.
The post Blockchain in action: How Philippine government is modernising public services appeared first on e27.