Do you think that bitcoin can reduce corruption?

[Lun4t1c]

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?

No, unless those corupt government official will stop their greediness and taking our money

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[dx5]

Of course not. Corrupted people will always be corrupted and nothing is going to stop that drive.

[tats14]

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?

Well it's depend upon the situation, bitcoin can lead to the to the successful of life and yes, it can be reduce to corruption in any country of this world, bitcoin can lead you to your successful life.

[vintages]

The answer to this question is sort of tricky in the sense that Bitcoin can reduce corruption and as well as promote it. In reducing corruption; i think i have seen an ICO which claims to eliminate fraud in the Home Repair industry (Bobsrepair). Many company or organization can receive a better clarification on how their money is been spent. And for promoting corruption, some bitcoin owners or criminals tends to use bitcoin as a means of transporting their illegal money.

[lionheart89]

bitcoin is a decentralized cryptocurrency and is not regulated or guaranteed by central authorities that are widely used transact in different countries. because it can increase corruption then the government wants to ban bitcoin in country but i think it is difficult to do.

[startselect]

bitcoin is a decentralized cryptocurrency and is not regulated or guaranteed by central authorities that are widely used transact in different countries. because it can increase corruption then the government wants to ban bitcoin in country but i think it is difficult to do.

They can also use Bitcoin to hide their corruption. Corruption really takes being in a position of power, money is just one tool that corrupt people use.

[Sir Cross]

My answer would be straight up no.

There is corruption because of the system. There is corruption because of the morals of a person and I don't think the presence of cryptocurrency would change that. It would take much more than that to eradicate corruption and even with government regulations to be made, it may not help as suggested by OP. Depending on a person's morals, cryptocurrency may even breed corruption because the officials may use it as way of money laundering.

[dx_twisted]

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?

No, unless those corupt government official will stop their greediness and taking our money

Corruption won't stop as long there is money involved. It's really hard to fight the urge of greediness. You can compare it fighting the addiction with drugs, cigarettes or alcohol, once you get a hold of it, there's no turning back. With Bitcoin's existing, instead of helping us out in decreasing officials involved, it might be the reason to continuously increase the graft and corruption that currently exist within the government. Bitcoin anonymity feature is the main reason why it was being involved in illegal activities and politicians, even if they aren't aware, will be able to see a loophole with Bitcoin that will use it to hide suspicious transactions to the general public. Hence, leading to graft, theft, stealing and corrupting money within the public eye.

[Anonylz]

Of course not, corruption will always be in there, and it doesn't matter if bitcoins or cryptos are just being used in order to make it a bigger thing.
I do not know, but for me, a lot of politicians are going to start ICO's in order to collect funds for their political campaigns soon.

[Xsavrent]

Are you so joking? Bitcoin is the only one that does this, it increases co-operation and not how you asked "CAN IT REDUCE IT?".

[hugeblack]

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?

How bitcoin will support transparent of the economic system.Bitcoin can be used to maximize corruption in Some countries.
The government will ban everything because they need rich men and rich have them own bank.
cryptocurrency can Limit the greed of the rich.

[noorman0]

Bitcoin is the object, just as you ask "will money reduce corruption?". while corruption depends on how the government implements its own country's financial system, including if bitcoins are actually enforced then they must create a new system that is safer than cheating.

[Scavagers]

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 agree on the latter one, they see bitcoin as a threat but not an opportunity. They always see the bad side of it not thinking of the benefits we can get here. I think bitcoin can not reduce the corruption because politicians will always be politicians. Corruption will still be there unless a certain action can be done against them. No matter what currency is, corruption will still exist as long as there is money involved. Transparency is also good as it lessen the probability of corruption.

[Fantina]

I think that the level of corruption has to be to become much higher as any official can request a bribe in cryptocurrency that on my vzgyad can't almost be traced

[paul00]

I think that the level of corruption has to be to become much higher as any official can request a bribe in cryptocurrency that on my vzgyad can't almost be traced

I agree with you that the level of corruption will increase and will not reduce corruption in each country. The fact that transactions are hard to be traced in bitcoin, it will increase the chances of corrupt official to get more funds thru it and not be able to get audited by the auditing bodies.

[dammang]

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 so because if one member get a enough money thru bitcoin he or she cannot think to steal or get money to government so why you steal money to other if you have it.

[burner2014]

I think that the level of corruption has to be to become much higher as any official can request a bribe in cryptocurrency that on my vzgyad can't almost be traced

I agree with you that the level of corruption will increase and will not reduce corruption in each country. The fact that transactions are hard to be traced in bitcoin, it will increase the chances of corrupt official to get more funds thru it and not be able to get audited by the auditing bodies.

Why not? Although it has nothing to do with the cryptocurrency with regards to corruption at least if you are just an ordinary person and you are earning here in bitcoin you cannot notice anymore that some of the government officials were stealing from the country because you have something and you don't mind it anyway.

[Lupus Solitarius]

Actually, with its anonymity, there are good chance that bitcoin will create MORE corruption!
In these days it's difficult to move money without to be traced, but with bitcoin and just a scramble you can transfer any sum without be noticed.

[Gladz29]

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?

For me bitcoin can't reduce corruption. Because bitcoin is a virtual currency and they don't used for any corruption. The government only can reduced corruption, because their are some people using their power to corrupt.

[Cryptosymphony]

It depends: may be bitcoin will create more transparency, it there will be a connection between bicoin addresses and a human.