Do you think that bitcoin can reduce corruption?

[Hirameki]

Absolutely yes, since transaction in bitcoin is listed in ledger, it will be more transparent to public by giving them the transaction address if the contract entered is fair to all.

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[trecore4]

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?

Im sure that government will take all the efforts to ban the things because they are not liking the crypto world at all. Not sure if it is really corrupting the market or not but there has been rumour or buzz that bitcoin is being used as criminal activity stuff. It is anonymous and people are using it for illegal activities in many instances. The government may not be able to cash the fish in easy way so may be they will just ban the whole thing instead of going into chaos. I think that is what will happen and they won't bother doing that because they have to loose nothing. Neither they are going to use it or not they are going to work along with it. Whatever it might be, but consequences would be against the crypto lovers!

[Alex_nutis]

He can not reduce it in any way. It can only be simplified, because crypto currency can not be marked as cash for evidence

[dado7]

Bitcoin by itself can help reduce, but maybe not destroy the core of the problem. It is just a form of digital money that could be used as any other, although the way of distribution is a little bit different and taken away from the control of the governments and banks. However, those who want to use it for their own purpose on harm of others will always find a way to controls the available tools.

However, a blockchain, together with some other politically-economical ideas strongly incorporated and accepted by the community can.

[shezu007]

Indeed, Bitcoin can reduce corruption but there is no such huge involvement of reducing corruption because people can do corruption with various ways so its not possible that bitcoin can disappear or can perform any big steps but yea in some ways like bitcoin is digital money and there record will not edited anywhere it will be fix and will show fix time and fix date and have fix transaction fee at which you have done transaction so like transacting money in BTC no one can do tempering of record.

[cryptorampage]

Of course , i think you are 100% right , if corrupted countries approved bitcoin , they will get less chance for corruption. But vice versa i really don't know the countries benefit if they approve bitcoin . If anybody knows please tell me ?

[mochalu]

I don't understand how will bitcoin stop corruption because some people tend to misuse it and some even have the intentions to utilize it for acquiring other people's money. This is quite impossible.

[3la9l_kolbaCa]

if the people used block chain to be the banks of the funds of the money for sure there will be no more corruption but for sure there will be many disadvantage out of it there will be a possibilities that bitcoin dropped price and it causes to loss money.

[lesinset]

I think they will just ban everything. Because that's what they always do whenever they sense powerful competitors specially if the government is corrupt.

[ChaitanyaKosaraju]

Sad part corruption will never be reduced...only it changes the form....corruption what you see in asian countries is different from corruption in african countries and corruption in america and europe is completely different from what is seen in asia and africa. Corruption takes place because of greed, grred for money, power, fame etc. unless those characteristics of human being dies corruption doesn't end.

[intoy_victor]

I think so, because they could not manipulate bitcoin. How could they do corrupting? Government will do anything about bitcoin. Maybe they will support banned it because bitcoin will be have compitator about currency. Crypto or local currencies.

Bitcoin could reduce corruption in the future.

[miradorme]

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?

Bitcoin is more likely to increase corruption as transactions cannot be traced back to an individual. It is one of the major issue that governments have with bitcoin and why many move to ban it.

For me bitcoin cant reduce corruption.  Because corruption will start the leader who not contented of their life,  thats why they corrupt to other people.

[BlueStackz]

I think it is not possible. Bitcoin can't reduce corruption. On the other hand it increases corruption. Government are not able to handle it because bitcoin is a decentralized currency. Anyone can transfer money through it and he can do it without knowing government.

Surely bitcoins are resources of corruption free environment and at the same time there are many people who are doing corruption with this element. So I think this depends on the person that how he deals with everything in this world.

Everything has some good and bad in it but that doesn’t mean for its bad, you call it a whole bad thing. Bitcoins are amazing and dangerous too.

[fiomcorka]

People sometimes got crazy and think that BITCOIN is the solution to every socio-economical problem they are facing today. But it's not so, BTC can't really help to reduce corruption coz bitcoin use anonymity in the transaction so how could we know who got how much bitcoin with them. Bitcoin Address is just the combination of number and alphabets, which cannot define the identity of the user. Bitcoin transaction may called to be transparent on blockchain but it does not have any advantage to evade corruption.

No brother no need to be fed up by such threads. Autarky this portion is all about giving information whatever you know about something. Here are newbies with us who are continuously coming and getting some useful facts about trading and investing and altcoins and all other related stuff. So be cool and just ignore if you don’t want to see this thread coming again.

[hachiman13]

It can be reduced to some extent. I mean, with the public ledger, people will be able to see what the politicians are up to.  However, that does not automatically mean that they will be prosecuted. Law enforcers can still be bribed outside the blockchain.

[Kalemder]

a currency that can not be controlled and is completely hidden. so bitcoin can not do it.

[fabrizoc]

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?

It still depends whether bitcoin will fall under the governement's hands or not. And whether the government will use it properly or not. Just saying the possible things since bitcoin in the present is quite impressive.

Bitcoin is just a crypto currency and most of the people are buying it as they are taking it as a very valuable asset which can help them in making of some handsome amount of money in less time as the market value of bitcoin increases very much significantly, thus brining more money in the pockets of the investors and holders of bitcoin. It has nothing to do with reduction of corruption andcan’t do anything in that case.

[pogiparin]

I think banning everything in favor of bitcoin will not be realistic. Bitcoin in its current state is still risky and governments would not opt to fully implement an economic system with bitcoin as its currency. Moreover, it cannot solve corruption. For me, it may potentially promotion corruption since bitcoin's value is relatively high. Its value could be use in power plays between governments and agencies.

[sonali2015]

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?

They try to ban everything like as digital currencey bitcoin,eth,other coin.Now people are invest on digital currency and they know digital currency safe and profitable.But govermment think if increased use of digital currency they get lost because people are not interrested bank if bitcoin or other currency ligel.

[IanRidgwell]

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?

It still depends whether bitcoin will fall under the governement's hands or not. And whether the government will use it properly or not. Just saying the possible things since bitcoin in the present is quite impressive.

Bitcoin is just a crypto currency and most of the people are buying it as they are taking it as a very valuable asset which can help them in making of some handsome amount of money in less time as the market value of bitcoin increases very much significantly, thus brining more money in the pockets of the investors and holders of bitcoin. It has nothing to do with reduction of corruption andcan’t do anything in that case.

No doubt that bitcoin is a valuable assets, specially for those people who know the importance of bitcoin. Bitcoin is the new emerging crypto currency which is in fact changing the word. As a currency i do not think that it can reduce or help in reducing corruption, but it can at least increase the fear income of the people through giving job opportunities to people or giving trading and investment opportunities to traders and investors.