Can Bitcoin be effectively used to curb corruption?

[Victorycoin]

Nope. Let us say the government transfers X bitcoins to a contractor.
There is no way to say that the contractor performs work up to the standard. Similarly there is no way to say that kickbacks have not occurred.
The money trail is just one aspect.

In a such a situation, the fund is likely to be held in a publicized hot wallet and all transactions pertaining to that wallet can be monitored and questions asked. As for ensuring that a job gets executed or not and to standard, that is a different matter all together and is independent of whatever mode of payment that get used. Bitcoin's contribution to curb corruption is the public ledger and it is practicable if only the corrupt governments would ever give it a green light.

[Kaller]

I think it is way too early to tell. See, right now there is no doubt that Bitcoin is way more corrupt than fiat is. However, fiat was also corrupt back in the days when there was less security, such as the "Wild, Wild West" therefore all I can say is as time goes on there will be less corruption in crypto and then we will be able to tell for sure.

[NewBet]

Ehm, Bitcoin is the source of most of the corruption these days... monetarily speaking that is, so I think this question is rather a moot point. I mean I have been scammed for Bitcoin multiple times and it is really sad that we have such people in this community who think scamming will lead them to happiness.

[btc_angela]

I don't think politicians will approved of this actions. They will be afraid that everyone is very public specially in the blockchain. Plus this corruption thing has been going on for centuries and its gonna be a hard habit to break specially. And besides, corruption takes many form not just monetary form. They can give favors to others and this is also a form of corruption. So I doubt that bitcoin or blockchain can curb it. Till politician themselves change for the better, no amount of technology can alter their need to perform corrupts act specially if the offer is really good. Like huge sum of money in exchange of a favor.

[pearlmen]

Rather than focusing as bitcoin to curb corruption, I would focus on the blockchain technology as a tool to make that a reality. The reason why corruption thrives in every society is because there is element of secrecy in transactions which is something the blockchain will eradicate by making every transaction seen in the public if that is deployed to the electoral system, the records of birth and death, the records of graduates in the country, the records of revenue generated by government, the drafting of budget and its implementation among others, then corruption will be reduced drastically.

[Turan100]

bitcoin itself is a revolutionary word almost everyone who's good on the internet knows bitcoin we trusted bitcoin before, how many people predicted the vanishing of the bitcoin, but now after all this doubt it is used in stores used in real world a big salute, about corruption this world is not perfect and bitcoin belongs to this world, easy as drinking water.

[aoihs00]

Sounds really good man. But why do government will want this to happen in the first place that us the big question one should ask oneself. I mean no corruption in the government offices? ;-) lols. That might take time to happen and implementing such public ledger could bring the governments private and vital financial information to the public attention which might be truely not needed to show up like that. What they will do in such cases? Because sometimes there are important things which government will need to hide from the public interest and keep it confidential. May be blockchain can be implemented in the public and private hedging but partially for the government sectors.

[jamids]

It can help curb corruption by being transparent. If every public official in govt had to use btc we would see what they are doing and whre the money goes and all that. Would help keep them honest for sure.

Government officials would then be very careful in spending since people can track where the money flows. By being transparent, the public can freely evaluate the transactions of the government thus a manipulation of the funds would be near to impossible. Using fiat money, there is a possibility of hiding some funds because it is possible to have no records but to have funds sent through blockchain, all transactions are recorded so there would be no way to hide some funds. Maybe through this way, corruption can be lessen or if possible totally eliminate it.

[happyme1818]

I came across an article online that is quite interesting and it goes thus;

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin can lessen the corruption activities if implemented because you can track all the way down the transaction  but cannot completely terminate it because corruption is a habit or a disease. They will always find a way to steal money from people. One of the reason why some government officials don't like bitcoin to be part of their system.

[krauzzer02]

Well it depends upon how the Government will execute the Blockchain technology through their funds and transaction. One of the good traits of this technology is to have transparency over the transaction and funds without any compromise and breach to the value, the Blockchain is an Open public ledger that let's the ordinary people view the transaction executed by them, you can't cheat or fake the transaction as you can't edit or rewrite the past value of it. However bitcoin works anonymously, you can see the transaction but you can't identify who is the owner of the wallet address.

[alfs75]

I came across an article online that is quite interesting and it goes thus;

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin will reduce corruption if its legallize  and implemented because its digital transaction,unlike money that you can give physically direct to the person.bitcoins cannot stolens fastly because its decentralized and not controlled by the banks,unlike money its centralized by the banks  and its market value is stable.thats why its help minimize the corruption because its hard to attributed in the crimes and bribery.

[selectaselectine]

If the government continues to steal money from the people then it won't work the way you want it to be. These people who are eager to gain money without sweat will continue to steal just for their convenience.

[palle11]

Corruption is with humans and can only be reduced by laws. So, bitcoin has no way of curbing corruption. Corruption itself is with all human society and a way forward is for individual government to provide laws that will debar individuals from being in such manner.

[Lanatsa]

I came across an article online that is quite interesting and it goes thus;

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin will reduce corruption if its legallize  and implemented because its digital transaction,unlike money that you can give physically direct to the person.bitcoins cannot stolens fastly because its decentralized and not controlled by the banks,unlike money its centralized by the banks  and its market value is stable.thats why its help minimize the corruption because its hard to attributed in the crimes and bribery.

When you know totally on bitcoin you wont really able to say such thing. Bitcoin cant be legalized no matter what since its a decentralized stuff which means government cant really control it or even modify it thats why they dont really like bitcoin on most of them for sure. Even local fiat alone it is rampant that can be used on illegal stuff and its common.Even though its centralized and being controlled but not totally can avoid those kind of situations as long there are people who do have criminal minds will surely make use of bitcoin specially its anonymous.

[Hydrogen]

Barack Obama initially had a website which tracked federal spending. Its one of the reasons behind the claim of his administration being one of the most open and transparent ever.

I think a publicly accessible ledger for government spending is a great idea. What is needed to bring deficits and debt down however is independent, fact driven, media. I've seen anonymous and other groups make efforts in this area only to be shut down. Another area which needs focus is the efficiency (or inefficiency) of government, state run, programs. Space X has achieved more than NASA with 100 times smaller budget. The cost of some state run, public schools, in the united states boast per student costs which rival the value of Harvard tuition. Government run systems are extremely broken and inefficient in many ways which drive up deficit and debt. The end result is reduced standard of living as excessive taxes strangle the economy while not producing cost effective solutions for citizens.

[Aba]

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence   blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

[alexzorgo]

Not only the bitcoin and its transparent transactions can help with fight against corruption. A fixed asset, I consider, there shall be universal implementation of technology blockchain in the government organizations. In each of such organizations databases are used. In many of them access to such bases is indirectly provided publicly for citizens with the purpose to reduce bureaucratization and to increase online presence of such organizations. At the moment in such databases it is difficult to track all chain of transactions as there is always an opportunity to remove information in someone's purposes. Therefore implementation of technology of blockchain, I think, can help to resolve an issue with the invariance of all change history of these databases.

[Stac]

Bitcoin is highly transparent as it gives financial freedom to its users world wide and every one can keep track of the bitcoins in the public ledger system through the blockchain technology, all the transactions are recorded in the blockchain network. Bitcoin is a solution to cut corruption from the world as this helps to eradicate identity theft and online banking fraudism another important feature of bitcoin is that bitcoins cannot be duplicated like fiat currencies. Many people are playing with black money or duplicating money this bitcoins has the capability to wipe out this black money issue from the world and make a better anti corrupted World.

[voztata]

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence   blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

[MiningBattalion]

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence   blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

It is possible way that bitcoin help curb corruption not by how it is made and bitcoin is a solution to cut corruption from the world as this helps to eradicate identify theft and online banking process.