Bitcoin as a way to avoid corruption

[defaultking]

I'm sure it would be a matter of time until people would figure out a way to launder money using digital currency just like they do with that though it might make it somewhat harder.

[1715304199]

1715304199

[mtnsaa]

Sure, but how could bitcoin bring transparency to political campaigns?

Can you share the link of the TED talk? Thanks.

It's in spanish and it's mostly an introduction to Bitcoin, he just mentions the idea but doesn't go too deep (well the title is actually "Bitcoin and its threat to corrupt governments").

https://www.youtube.com/watch?v=J-h0h2ngdLg

[bitbaby]

So far bitcoin has achieved quite the opposite. Never has a currency had so high crime rates per total market cap. Volume and percentage of bitcoin transactions that are involved with crime are bigger than any other currency.

Anonymity has its side effects but if funds are public and known to be in custody of someone then it just becomes more difficult for them to spend it and not declare where they spent it. So in a way it can stop corruption but not crime until it loses anonymity.

[chennan]

I think Bitcoin in particular would be very reasonable and logical to donate in charities, in order to track where the funds are going to, and to see if your funds are being spent how you intended the funds to be spent by the charity.  The problem lies in this fact:

Ex: You want to donate to a charity that feeds starving children in Africa.  You donate funds to the charity and you see it on the blockchain.  Now, the charity can't just use that bitcoin to buy food for the children in Africa, they need to change it into local fiat to be able to buy food.  Now it goes into an exchange so the amount you donated in bitcoin can be changed to fiat.  From there, you have no idea how the funds are being used, and we go back to the same problem before... corruption can still ensue.