BLOCKCHAIN TECHNOLOGY

[roosbit]

Just getting a bit confused here, people here are mostly associating the blockchain to transparency, but what of coins like monero which favor anonymity...does this make such coins not part of the blockchain?

[andriw]

I agree, because the government in my country is promoting transparency in all fields, including the state budget. it would be great if the transparency mechanism uses blockchain, so that the public can oversee the allocation of the budget.

[SuicidalDemon69]

Wait a seconds, we can actually do that already but the only problem is we cant know from whom the transactions is being made and to whom it is being made. I mean crypto currency is already very much open source and whenever a transaction is broadcasted over the blockchain then it is embedded in the blocks and stays there forever and you can always see it through the block explorer. I dont think you need any additional features to be added to see it.

As I mentioned its the only name of the person which cant be disclosed as one can have thousands of addresses and wallets and thus no name attached to it really.

Almost all of the countries have a government website. From there, transactions ID's will be presented with what/where the funds has been used and the tx ID's can be search through Blockchain explorer.

I guess you are only here because "Blockchain" can give you some money in a fast way. That is the reason for most of the people coming here and that is for the money.

I'm here to earn but I'm also here to learn and apply BLOCKCHAIN TECHNOLOGY for the betterment of our society.

Governments have been implementing Blockchain Technology for transparency already. One such case is Canada, https://explorecatena.com/. As you can see in their website, you can go and browse government spending thru Blockchain. You can even see it in explorer so its there's no doubt that you know where the money is going. I'm sure that this is just the beginning and other governments will also implement it on their backyard, or maybe some of them are already is, but it was not yet reported.

I never thought that this was already implemented. This means, this could be the real future if all of our Government applied this technology in each countries. I also never thought that this topic will be flood with lots of comments and new ideas and opinion about implementing blockchain through Government to fight corruption. This is really great. Hope you could continue to share ideas and opinions. I wanted to reply on each of the comments but I rather choose what I'm comfortable to reply with. But thanks again. I'm expecting to see another insights about this topic.

[spongegar]

True it could be a deterrent for corruption because of it's transparency and realtime recording of transactions. But be that as it may, humans are innovative by nature and will think of ways to go around using blockchains or a loophole in the transparency of blockchains. They've done it before, they will do it again.

[cc80aa]

    Blockchain technology is a new form of internet controlled transanction only for digital currency, bitcoin transanction, hidden user, no record on the transanction on your true identity, very high security on identity but money also is very high risk. you can choose for trade for good people just for select a right one.

[andriarto]

I agree, because the government in my country is promoting transparency in all fields, including the state budget. it would be great if the transparency mechanism uses blockchain, so that the public can oversee the allocation of the budget.

this is indeed good for government systems, where all the people can monitor from the smart contract. that way there won't be a lot of money evaporating during the distribution