Can Bitcoin be effectively used to curb corruption?

[Bitcoinjheta]

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.

I thinks its very feasible that bitcoin can give effectively used to curb corrupt officials. Because bitcoin has only generated with blockchain so any transaction has made with the wallet address they monitored and no one else would take to stole or corrupt the money in a one stored blockchain.

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[bajigur894784]

I think so, Bitcoin that uses Blockchain technology seems perfectly suited to solve the corruption problem.
the biggest advantage of blockchain in government settings is that technology's ability to make all kinds of finance things efficient and transparent.

[Lancusters]

Bitcoin is not a tool to fight corruption. Let those engaged in law enforcement. My opinion is that the fight against corruption should be conducted by other methods. It makes no sense to deal with corrupt officials. We need to create conditions in which would not make sense to pay the officials. You need to deal with unnecessary restrictions.

[barbara44]

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.

If we use better methods to identify the theft reports in business running in any country of the world, bitcoin can help us to find it with much accuracy and authenticity. But for that we have to legalize bitcoin and it should be legal currency of any country.

It is much secure and safe and transparent currency too. It can identify the misconception of financial loss at any moment with fine results.

[elegion]

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?

What do I think? I think he was doing great with his article until he used the words "Bringing the power of blockchain technology to government offices"

This person went from volunteerism to a naive form of idealism and became a government supporting slave at the end of the article. I don't see how humanity would need a Government of any type when ALL the private industries today are the ones who are always innovating and creating new technologies. And it's always governments holding them back with fines, and building codes.

When 10,000 years ago there were no governments and people were just fine, as a matter of FACT they were doing so great that it's the very REASON why you can sit in front of your computer and read this today!

when the United States was founded on just a handful of people who decided to fight the entire British Empire and it's armies without the use of a government but used small militias to do so instead.

Whoever wrote that article is so naive and misguided that it's worth laughing at, he or she honestly believes that a decentralized platform, a DECENTRALIZED system of finance will make the government more accountable, less destructive and kill less children? They are sociopaths, this system kills millions of innocent men women and children per year and all over the world? 

War's a racket and Human suffering is a business model and business is good.

[FrueGreads]

Maybe it could help, and I'm sure it would probably make it easier to track how the funds are being used, but we already do that with finances, and companies usually find ways to hide things, steal money and evade taxes. Again not saying it wouldn't help, but we are usually very creative when it comes to achieve personal gains, even if that means deceiving others. Also let's not forget that corruption has many forms, and can just take the from of an abuse of influence, allowing others benefit from situations they wouldn't otherwise be able to get into.

[Rinder]

Bitcoin can be used to hide the money from politicians, sure if a country would consider the technology, blockchain they could do all transactions more transparent, but countries doesnt wanna to show how much they are spending and at what, they announce numbers and people believe in them. Into the next years we will start to see politicians getting into bitcoin, this way there will be no proof they are stealing, its sad but once they realize how easy it can be, this will become a nightmare, and for sure there are better coins for those purpose.

[usorin]

Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

[JC btc]

Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

Bitcoin is an individual thing and has nothing to do with the government that is why you are right that bitcoin cannot ease/help us to prevent corruption. We cannot control people if they want to scam others then it is their conscience for as long as we don't be like them then we can sleep well at night, right?

[pinoyden]

Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

i think your wrong. corruption is infact related to money because money is the root of all evil ( as the saying said ) and corruption is mostly known and recognized due to  government or government organization and it has nothing to do with the DNA of the people, education, social issues, etc. overall , bitcoin can still be effective to curb or combat corruption because no one holds and controlls it not even the governments or higher authority.

[worle1bm]

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?

Corruption a major problem in developing economies which hinders the growth of nation cannot be overcomed till its backed by the government whatever methodology you apply. So if we can trace government transactions in blockchain we could have a eye on them but still there is probability that it erodes the limits and follow some other methods to do so.But one aspect is that it is decentralized currency and not controlled by any financial agency so one can transfer btc to some address without any questioning and it can give a boost to corrupt people as money is base for all evils.So till now btc don't seems helping in this matter.