They are the same thing it is just a different name for a
butterfly knife, it is call balisong in the Philippines.
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A balisword is an exceptionally large balisong knife.
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The Balisong website sells balisong knives which originate in
the Philippines. The Philippines are the original home of the
balisong which is also often called a butterfly knife.
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On the benchmade website
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A balisong is a folding pocket knife with two handles
counter-rotating around the tang such that when closed, the blade
is concealed within the grooves in the handles.