mikan111
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January 15, 2018, 05:28:45 PM |
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It should reduce corruption, but corruption is something that is a part of human nature, so I think it will definitely reduce it.
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Leane Lee Natividad Cuenc
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January 15, 2018, 05:48:53 PM |
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Bitcoin is a digital currency. It was invented with the purpose, to reduce the problems faced by common people while performing banking transactions i their day to day life. Bitcoin is a decentralised currency, means no third party interference is required while performing a transaction. Its peer to peer exchange helps to maintain secrecy of transaction. Its own security system Blockchain is unbreakable. So there is complete freedom for a buyse as well as seller to perform a trade. Complete elimination of third person making chances of corruption almost zero. If we use bitcoin everywhere chances of corruptions will reduce considerably.
I agree ... that if we use bitcoin it reduce corruptions...so bitcoin was invented for some purposes..in that is to helps people and unemployment to reduce also poverty,even corruption...instead they will corrupt they just focus to use bitcoin and continue to expand bitcoin currency. |
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voztata
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January 16, 2018, 07:47:47 AM |
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Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
Lol, the government don’t even care about that, and I don’t think Bitcoin is competing with the government in anyway, cause if it does, they would have closed it since. So Bitcoin can’t stop corruption. That’s just my own idea, would be happy to know other people’s idea too. |
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fritzbird
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January 16, 2018, 08:26:45 AM |
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I think not, it won't even hold back or reduce corruption at all. Even with the government's plan to regulate or accept bitcoins,
corruption will still occur and continue to take place. There are a lot of smart people and surely they can figure a way to use
bitcoins to their advantage. With an anonymized and a decentralized structure, bitcoin will just become another platform for corruption.
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Mainman08
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January 16, 2018, 08:59:50 AM |
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Bitcoin cannot help reducing corruption. Some government are banning bitcoin. We don't know why they are doing it. And dealing corruption in one government is very hard. Because some official are hungry for money. They will do anything just to get it.
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Kambal2000
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January 16, 2018, 09:04:36 AM |
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I think not, it won't even hold back or reduce corruption at all. Even with the government's plan to regulate or accept bitcoins,
corruption will still occur and continue to take place. There are a lot of smart people and surely they can figure a way to use
bitcoins to their advantage. With an anonymized and a decentralized structure, bitcoin will just become another platform for corruption.
There is no way to reduce corruption because we cannot control the life of other people, and even there is a bitcoin there is no effect, as cryptocurrency has nothing to do with the government, but if we were thinking that when cryptocurrency will be our currency I don't think that corruption will reduce, in fact corruption will become more easy. |
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betchay22
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January 16, 2018, 09:13:08 AM |
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maybe it will reduce but not totally eliminated. The more people will gain, the greedier they become. If all people will be given a chance to be successfu in bitcoin and earn their living from it. And they are contented and satisfied with what they get. Corruption will have no more space in their minds and hearts
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Purno99
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January 16, 2018, 11:20:20 AM |
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in my opinion, the bitcoin can not reduce corruption because of what? corruption is the attitude of someone who is not satisfied with what they have now. so it has nothing to do with bitcoin, and all that we return to each person is basically human is not satisfied.
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Fundamentals Of
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January 16, 2018, 11:31:48 AM |
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Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
I think the governments are doing both. While they are using the scare tactic to try to let cryptocurrencies know who's the real boss, they are also doing some balancing act of opening up a little to these new innovation. They cannot just do black and white actions right now as they still need to please a lot of people and stakeholders. They cannot simply give their go signal to crypto because crypto is a revolutionary thing that will surely affect the banks and other traditional players. On the other hand, they cannot also totally ban crypto because the support coming from the community is also strong. Transparency is the enemy of corruption and blockchain is promoting perfect transparency. |
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heleng05
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January 16, 2018, 11:35:00 AM |
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I think bitcoin can't solve it or reduced it because they may also use this as a second way of their money holder that they can transfer it here to add this as a wallet or acting like that and I believe in that like here in my country there's a lot of a corruption and I think they can see bitcoin as a wallet.
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BitcoinPanther
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January 16, 2018, 01:35:44 PM |
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In my opinion if the government used Bitcoin in their transactions, it will definitely reduce corruption. Why? Because blockchain is so transparent, people can easily see where the money go. This will discourage officials to commit corruption especially when it comes to taxes or money. Now it comes to my mind why some government are really against Bitcoin... they will be exposed of their corruption.
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Stac
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January 16, 2018, 01:53:18 PM |
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Yes I do think that the bitcoin can reduce corruption from the world as bitcoins cannot be duplicated unlike traditional currencies and all the transactions world wide are recorded in the public ledger called the block chain technology which is transparent and clear to all and can be audited whenever required so there is no chance for corruption to take place in such a clarified ledger and bitcoin networking system. No one has control over the block chain technology and all can view the bitcoin transactions from any part of the world.
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Haynes
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January 16, 2018, 02:00:31 PM |
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Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
I think it could be used because the advantages of bitcoin are decentralized properties so that all transaction processing will be recorded clearly and no data will be hidden. |
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Findingnemo
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January 16, 2018, 02:01:28 PM |
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In my opinion if the government used Bitcoin in their transactions, it will definitely reduce corruption. Why? Because blockchain is so transparent, people can easily see where the money go. This will discourage officials to commit corruption especially when it comes to taxes or money. Now it comes to my mind why some government are really against Bitcoin... they will be exposed of their corruption.
Bitcoin will not make a changes in the corrupted world it is still working on all departments and corruption will not easy to clear , the government will definitely make an effort to clear and reduce the corruption money in all over the world it is the best way to take our future economic development more quickly . |
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Pablo0721
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January 16, 2018, 02:09:11 PM |
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Absolutely YES, simply because on how blockchain works and its transparency to public. There will be no more secret transactions.
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hynext
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January 16, 2018, 03:26:10 PM |
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In my opinion bitcoin can't reduce corruption, because they make a way to do corruption. What if they says, "they got hacked". Because corrupt people is in their blood now. Nowaday's corruption it's hard to eliminate.
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Tamim121
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January 16, 2018, 03:36:05 PM |
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Reducing corruption by bitcoin is not possible. But bitcoin can increase corruption. Because too many corrupted people use bitcoin to maintain their secret. Because bitcoin is a decentralized currency. Also government can't handle it.
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streetlight
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January 16, 2018, 03:44:46 PM |
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lol no. Bitcoin cannot reduce corruption at all. How will bitcoin reduce corruption? It is anonymous except the adderesses and it is not easy to link a person to a bitcoin address.
People can easily launder money through bitcoin which means it will increase corruption not reduce it! Althought most people in government right now are not smart enough to use bitcoin to launder money. But it is not that difficult to figure out how to do it.
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nightxglow
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January 16, 2018, 03:47:45 PM |
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I think bitcoin can't make the people in government suddenly stop doing corruptions.
Because i think, corruption happened because the person want to do it, want to get rich easily and use money who's not theirs.
They need to have self aware that corruption is bad, they should not do it and be professional. That will be more helpful to reduce corruptions, not with bitcoin.
If they find bitcoin harmful or threatening, they may act recklessly and banned it, not introspect theirself and becomes better.
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KwizatzHaderach
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January 16, 2018, 03:51:44 PM |
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Not necessarily bitcoin, as of now bitcoin is not a reliable p2p transaction channel due to atrocious fees.
It will be quite hard to also trace the movement of money in the crypto space. There are several privacy coins that can make it impossible to trace txns.
I think using blockchain tech innovatively can help reduce corruption by lessening red tape and making some processes automatic and with no human intervention (like sending funds to those that need it and are poor).
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