Laughing Hyena
  • Home
  • Hyena Games
  • Esports
  • NFT Gaming
  • Crypto Trends
  • Game Reviews
  • Game Updates
  • GameFi Guides
  • Shop
Tag:

Philippines

Decrypt logo
Crypto Trends

Philippines Turns to Blockchain After Mass Protests Over Corruption

by admin September 25, 2025



In brief

  • Integrity Chain, built by BayaniChain, logs DPWH contracts and milestones as digital assets validated by independent civic groups.
  • The launch follows protests on September 21, during which 130,000 people demanded accountability over $33 billion in alleged infrastructure corruption.
  • The project aims to rebuild trust using cryptography and open validation systems.

The Philippines has launched a blockchain-based transparency system for its Department of Public Works and Highways after mass protests over alleged corruption in flood-control projects worth billions.

Integrity Chain, developed by BayaniChain Ventures, was unveiled on Wednesday as a platform to record DPWH contracts and project milestones on a tamper-proof ledger.

The goal is to turn “government records into digital public assets that are immutable, verifiable, and openly validated,” BayaniChain CEO and co-founder Paul Soliman told Decrypt.

Once expanded from the DPWH to other agencies, the initiative could later help “protect the entire annual budget of the Philippines,” estimated at roughly $98 billion, he said.



The project is part of a broader effort “to reshape accountability across every department and every peso spent,” making accountability “permanent, measurable, and unavoidable,” Soliman said.

“Public trust will be rebuilt not on promises, but on cryptography, open validation, and a system where citizens themselves can verify outcomes,” he added.

The rollout comes in the wake of mass protests drawing an estimated 130,000 people on September 21, which marked the 53rd anniversary of martial law declared by former President Ferdinand Marcos Sr., father of the current president. The declaration is remembered for widespread human rights abuses, censorship, and corruption.

Protests demanded accountability after revelations of overpriced contracts, substandard construction, and ghost projects in the country’s flood-control program under the DPWH’s oversight.

Over $33 billion was allocated to flood-control projects across 15 years, according to the Australian Institute of International Affairs.

On-chain civic accountability

Similar to an earlier implementation at the Department of Budget and Management, Integrity Chain ingests data directly from DPWH systems, minting each contract, budget release, and project milestone as a digital public asset.

Prismo, the orchestration layer, manages data handling, encryption, and validation. The platform runs on Polygon’s Proof-of-Stake network, an Ethereum-compatible scaling solution that serves as its consensus and transparency layer.

The records are then cryptographically time-stamped and anchored on-chain before reaching independent validators, so that “any attempt to withhold or manipulate information becomes visible rather than hidden,” Gelo Wong, chief growth officer and co-founder at BayaniChain, told Decrypt.

Validators include independent civic organizations, non-governmental organizations, universities, and media groups, among other sectors. These validators would review and attest to the entries, with their own actions logged as public records to maintain accountability.

Keys for validators are “hardware-secured, rotated periodically, and assigned to reviews through randomization,” with each validator action “recorded on-chain as its own public asset, ensuring that misconduct or bias is transparently logged,” Wong explained.

Asked about safeguards, Wong pointed to the framework’s one-organization-one-vote model, which prevents any sector from dominating the process. More than 40 non-governmental organizations participated at launch, providing a “wide and diversified base of civic accountability,” he added.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

September 25, 2025 0 comments
0 FacebookTwitterPinterestEmail
CoinDesk News Image
GameFi Guides

Philippines Congressman Proposes BTC Reserve to Attack National Debt

by admin August 25, 2025



A bill proposed in the Philippine Congress would create a government-run bitcoin (BTC )reserve that cannot be touched for two decades except to pay down the nation’s rising debt load, setting some of the strictest sovereign crypto storage rules yet.

The proposed Strategic Bitcoin Reserve Act, introduced by Rep. Miguel Luis R. Villafuerte, directs the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 BTC annually over five years for a total of 10,000 BTC.

“The State shall promote and maintain economic prowess, including monetary stability and the convertibility of the peso, especially in times of crisis. With the increasing role of cryptocurrency in the world’s financial system, it is imperative to enact measures aimed at diversifying our assets to ensure financial security,” the bill reads.

Villafuerte’s legislation stipulates that the holdings would be locked for 20 years, and during that period, bitcoin may only be sold or swapped for the purpose of retiring government debt. Once the holding period ends, the central bank governor would be restricted to offloading no more than 10% of the assets in any two-year window.

In January, the country’s Bureau of the Treasury reported that its national debt hit $285 billion, or 60% of its GDP.

Villafuerte wrote in the bill that he was inspired by commodity-style reserves such as the U.S. Strategic Petroleum Reserve or Canada’s maple syrup stockpile.

To ensure resilience, the country’s central bank would establish geographically dispersed cold-storage facilities across the country, audited quarterly through public cryptographic attestations and verified by independent third parties.

The bill says that forks and airdropped assets must also be retained for at least five years, and stresses that private ownership of BTC will not be infringed, with promises that citizens’ crypto holdings would not be subject to confiscation.



Source link

August 25, 2025 0 comments
0 FacebookTwitterPinterestEmail
Philippines reviewing bill to create Strategic Bitcoin Reserve with 10,000 BTC
GameFi Guides

Philippines reviewing bill to create Strategic Bitcoin Reserve with 10,000 BTC

by admin August 25, 2025



Lawmakers in the Philippines are reviewing a proposed bill, which, if passed, would allow the country’s central bank to hold up to 10,000 BTC as part of a strategic Bitcoin reserve.

Summary

  • House Bill 421 directs the Philippine central bank to accumulate Bitcoin for 5 years.
  • If passed, the Philippines would become the first Southeast Asian country to legislate such a reserve.

House Bill 421 has been aptly named the Strategic Bitcoin Reserve Act and was presented to the House of Representatives by Congressman Miguel Luis Villafuerte. In his bill, the congressman touted Bitcoin as a “strategic asset” that could help the Philippines secure its financial future.

Villafuerte’s proposal calls for a sovereign Bitcoin reserve, one that, unlike the holdings of many other nations, would not arise from seizures or forfeitures but through periodic accumulation.

Under the proposal, the Philippine central bank would buy 2,000 Bitcoin a year for five years, allowing it to accumulate up to 10,000 Bitcoin, which would then be held in cold storage under strict oversight.

Once secured, the reserve must remain untouched for 20 years, with a few exceptions tied to national debt obligations. The bill places clear legal constraints on the central bank, prohibiting any sale, swap, or disposal of the assets during the lock-up period unless the country needs to pay off sovereign debt.

The bill also introduces a broader framework around transparency and accountability. It calls for the implementation of a proof-of-reserves system, which would require the BSP governor to issue quarterly public reports detailing the reserve’s Bitcoin holdings, wallet addresses, and control over private keys.

If passed, this level of reporting would place the Philippines at the forefront of sovereign digital asset management, offering a degree of visibility rarely seen in government-held crypto reserves.

The legislation even imposes post-lockup guardrails. After the 20-year period, any liquidation of the Bitcoin reserve would still be capped; no more than 10% may be sold or used within any two-year window.

Early mover advantage

Should this bill move forward, the Philippines would become the first Southeast Asian nation to legislate the creation of a sovereign Bitcoin reserve through formal statute. That distinction alone could boost the country’s profile in global crypto circles.

“Bitcoin gives emerging markets like the Philippines the opportunity to go around western financial capital and safeguard themselves from depreciating fiat currencies,” Kadan Stadelmann, Chief Technology Officer, Komodo Platform, told crypto.news.

“The Philippines has entered the Bitcoin arms race, and the bill validates Bitcoin as digital gold. Nonetheless, the Philippines has not made any law legalizing Bitcoin, which might not bode well for the bill’s passing,” he added.

Nonetheless, Stadlemann believes the Philippines could benefit from having a Bitcoin reserve due to Bitcoin’s potential for appreciation, and the fact that “it also can help financial inclusion in a nation where many are unbanked.”

Nations like El Salvador have made headlines for adopting Bitcoin as legal tender, in contrast, the Philippine initiative is arguably more conservative and structurally grounded, focused on long-term accumulation and fiscal insulation rather than retail-level integration.

With 10,000 Bitcoin, the Philippines would surpass El Salvador’s current reserve, which stands at around 6,276 BTC, and close in on Bhutan’s reported holdings of over 10,500 BTC.

The proposal arrives at a time when the Philippines is tightening its grip on crypto regulation. As previously covered by crypto.news, earlier this month, the Securities and Exchange Commission warned ten major crypto exchanges, including OKX, Bybit, and KuCoin, for operating without proper registration under the newly enacted Crypto Asset Service Provider rules.



Source link

August 25, 2025 0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
NFT Gaming

Philippines to Consider Strategic Bitcoin Reserve With 20-Year Lockup

by admin August 25, 2025



In brief

  • The measure directs the country’s central bank to purchase 10,000 BTC over five years, with a 20-year holding requirement.
  • Custody, proof-of-reserves, and disposal rules would be codified by law and regulation.
  • Local crypto voices call the proposal bold but warn of volatility, fiscal tradeoffs, and gaps in financial literacy.

The Philippines has introduced a proposal to establish a Strategic Bitcoin Reserve, a measure that would direct its central bank to accumulate 10,000 BTC over five years under a two-decade lockup period.

The bill was introduced in the House of Representatives as House Bill 421 by Congressman Miguel Luis Villafuerte, calling for the country’s central bank to manage the reserve under strict trust and reporting requirements.

Formally called the Strategic Bitcoin Reserve Act, the bill mandates yearly purchases of 2,000 BTC and allows sales only to pay off government debt after 20 years. If enacted, the measure would mark the Philippines as one of the first countries in Asia to legislate a sovereign Bitcoin reserve through a formal statute.



The “increasing significance of Bitcoin in ensuring financial and economic prowess” makes it “imperative for the country to take significant legislative measures,” Villafuerte wrote.

Congressman Villafuerte also said it is “vital that the Philippines stockpile strategic assets such as Bitcoin” to support national interests and bolster financial stability.

Elsewhere in Asia, Bhutan has built Bitcoin and Ethereum holdings through hydropower-backed mining, while Pakistan has announced plans for a sovereign reserve. Unlike other countries such as the U.S. and Germany, which built holdings from law enforcement seizures, the bill directs the Philippine central bank to buy Bitcoin on schedule.

The measure “can be an asymmetric bet in the upside for the Philippines,” Miguel Antonio Cuneta, co-founder of Satoshi Citadel Industries, which once operated the country’s first licensed virtual asset provider, told Decrypt.

“If we look at the other countries and states that have started or are planning to start a strategic Bitcoin reserve, we already have a template to follow,” Cuneta said.

Road ahead

Asked where the assets should come from, Cuneta pointed out that diversifying a small percentage into “a non-correlated, novel asset class with a track record of incredible compound annual growth rate” could strengthen its position.

“The best way would be to do it without affecting other critical sectors that need funding,” Cuneta, now a city councilor, pointed out.

Still, the bill would likely face hurdles once discussed by lawmakers.

“Although I don’t believe that the proposal will actually be passed, I’m hopeful that local corporations will…begin their own journeys towards incorporating Bitcoin into their respective balance sheets,” Luis Buenaventura, head of crypto at GCash, told Decrypt, citing how the proposal “casts a spotlight on Bitcoin and its growing role in treasuries around the world.”

The bill may also “signal law enforcement agencies to take greater care of confiscated assets from the various raids they’ve conducted over the years,” Buenaventura added.

The bill is “a bold step because it treats Bitcoin the way it was meant to be, long-term, censorship-resistant, and a true store of value like digital gold,” Paul Soliman, CEO of blockchain infrastructure firm BayaniChain, told Decrypt. “Unlike traditional reserves, a Bitcoin treasury can be fully auditable by the public if the government simply discloses its wallets.”

“That level of transparency is unprecedented in finance and could build real trust with Filipinos,” Soliman said. “Of course, risks remain—volatility, the use of taxpayer funds, and our current financial literacy gap.”

Yet with “clear governance, a smart acquisition strategy, and parallel investment in education,” Soliman hopes the reserve “could become more than just a hedge, it could be a symbol of accountability and a generational safeguard for the country.”

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

August 25, 2025 0 comments
0 FacebookTwitterPinterestEmail
Philippines Congressman Pushes Strategic Bitcoin Reserve Bill With 10,000 BTC Goal
GameFi Guides

Philippines Congressman Pushes Strategic Bitcoin Reserve Bill With 10,000 BTC Goal

by admin August 22, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Filipino lawmaker Representative Migz Villafuerte has introduced House Bill 421, which seeks to establish a strategic Bitcoin (BTC) reserve for the Philippines. The bill tasks the Bangko Sentral ng Pilipinas (BSP) with acquiring 10,000 BTC over the next five years.

Philippines Politician Floats Strategic Bitcoin Reserve Bill

Under the proposal, the BSP would be responsible for building a national Bitcoin reserve aimed at strengthening financial security by diversifying the country’s monetary assets. Bitcoin’s performance over the past year has reinforced its reputation as a store of value, with the digital asset hitting an all-time high of more than $124,000 before retreating slightly.

House Bill 421 recommends that the BSP purchase 2,000 BTC annually, targeting a total of 10,000 BTC within five years. These holdings would be locked in for a minimum of 20 years to provide long-term debt stability. Villafuerte explained:

It is vital for the Philippines to stockpile strategic assets such as BTC to serve important national interest such as providing financial stability, among others.

During the 20-year holding period, none of the BTC in the reserve may be sold, swapped, or auctioned except to reduce government debt. One year before the term expires, the BSP governor must provide recommendations on whether to keep the reserve or allow gradual sales.

After the minimum holding period, the reserve may be reduced. However, sales will remain capped at no more than 10% of total holdings every two years.

The bill calls for oversight by the Monetary Board (MB) to ensure transparency. It also requires the BSP to include updates on the Bitcoin reserve in its quarterly reports.

Strategic BTC Reserve Trend Picks Momentum 

In his speech, Villafuerte cited examples of other countries exploring options of establishing a strategic Bitcoin reserve. For instance, the US government is actively working on developing its BTC reserve, following Donald Trump’s victory in the November 2024 presidential election.

Following in the US’ footsteps, multiple countries have expressed willingness to create their own sovereign BTC reserves. Earlier this year, several Chilean lawmakers proposed the creation of a strategic Bitcoin reserve for the South American country.

Source: World Population Review

In the same vein, Pakistan’s Minister for Crypto and Blockchain announced in June the creation of the country’s first strategic BTC reserve. Another South Asian country, Bhutan, has already stockpiled huge quantities of Bitcoin.

Similarly, Brazil’s chief-of-staff to the Vice President said earlier this year that the country can no longer afford to ignore the rising global adoption of the Bitcoin protocol as a reliable monetary network. At press time, BTC trades at $112,420, down 0.7% in the past 24 hours.

Bitcoin trades at $112,420 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from World Population Review and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

August 22, 2025 0 comments
0 FacebookTwitterPinterestEmail

Categories

  • Crypto Trends (1,098)
  • Esports (800)
  • Game Reviews (772)
  • Game Updates (906)
  • GameFi Guides (1,058)
  • Gaming Gear (960)
  • NFT Gaming (1,079)
  • Product Reviews (960)

Recent Posts

  • This 5-Star Dell Laptop Bundle (64GB RAM, 2TB SSD) Sees 72% Cut, From Above MacBook Pricing to Practically a Steal
  • Blue Protocol: Star Resonance is finally out in the west and off to a strong start on Steam, but was the MMORPG worth the wait?
  • How to Unblock OpenAI’s Sora 2 If You’re Outside the US and Canada
  • Final Fantasy 7 Remake and Rebirth finally available as physical double pack on PS5
  • The 10 Most Valuable Cards

Recent Posts

  • This 5-Star Dell Laptop Bundle (64GB RAM, 2TB SSD) Sees 72% Cut, From Above MacBook Pricing to Practically a Steal

    October 10, 2025
  • Blue Protocol: Star Resonance is finally out in the west and off to a strong start on Steam, but was the MMORPG worth the wait?

    October 10, 2025
  • How to Unblock OpenAI’s Sora 2 If You’re Outside the US and Canada

    October 10, 2025
  • Final Fantasy 7 Remake and Rebirth finally available as physical double pack on PS5

    October 10, 2025
  • The 10 Most Valuable Cards

    October 10, 2025

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

About me

Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

  • This 5-Star Dell Laptop Bundle (64GB RAM, 2TB SSD) Sees 72% Cut, From Above MacBook Pricing to Practically a Steal

    October 10, 2025
  • Blue Protocol: Star Resonance is finally out in the west and off to a strong start on Steam, but was the MMORPG worth the wait?

    October 10, 2025

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2025 laughinghyena- All Right Reserved. Designed and Developed by Pro


Back To Top
Laughing Hyena
  • Home
  • Hyena Games
  • Esports
  • NFT Gaming
  • Crypto Trends
  • Game Reviews
  • Game Updates
  • GameFi Guides
  • Shop

Shopping Cart

Close

No products in the cart.

Close