Do you think that bitcoin can reduce corruption?

[resty]

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 don't think that it will reduce the corruption if there are still selfish people out there.  In this forum there are still selfish ICO owners that tend to run from their responsibility about issuing a payment to its participants. I somehow feel disappointed for it is hard to trace if a certain ICO is a scam.

[Addywealth]

Bitcoin cannot reduce corruption what reduces corruption is a our mindset change. Bitcoin was created to ease the way we transact business and make banking easier for us.

[goodvibes05]

I believe it will be more likely to increase corruption rather than reduce it. We all know that greedy people will do anything to have money in the expense of others. When they learn about what bitcoin can do there is always a possiblity that people like this will do anything just to corrupt and get huge amount of money without even noticed. Corruption is everywhere especially in the government.

[Tatzky]

Well if there's a will, there is way, even for criminals and corrupt people, if they want to corrupt then they may find another way to do it.
Thinking about the government who will be approved bitcoin inside their country and creating their own using government fund to form and create an ICO and earn from it.

[Kokoy]

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?

Nah, cause in the first place Bitcoin is not the formal currency of each country so probably the implementation of it to be used by all of the people is non-existent. We should be all open to that Bitcoin doesnt have any effect to the government unless this is a threat to the nation I think.

[Martinkuhn]

bitcoin will not help to reduce any corruption at all. Corruption is conducted thru the most anonymous currencies in the world; cash.

When govt finally implement blockchain for their currencies, then i think corruption will reduce. As all transactions will be available on the blockchain, audits will become so much easier. This is also why countries with lots of corruption are resistant to cryptocurrencies and the blockchain disruptions.. they want to preserve the status quo and continue to siphon away the countries' coffers..

[matanglawin]

bitcoin will not help to reduce any corruption at all. Corruption is conducted thru the most anonymous currencies in the world; cash.

When govt finally implement blockchain for their currencies, then i think corruption will reduce. As all transactions will be available on the blockchain, audits will become so much easier. This is also why countries with lots of corruption are resistant to cryptocurrencies and the blockchain disruptions.. they want to preserve the status quo and continue to siphon away the countries' coffers..

Definitely not. Corruption happens because of the greedy people in the government or any other sectors that is connected to them. It is actually an unfair act of government taking the money of the people then they are not making their job wisely. Hence they are using it for their own satisfaction, needs and wants. I definitely disagree that bitcoin can reduce corruption. Corrupted personnel should be pull out of their position if you want to lessen it.

[syamster]

The introduction of bitcoins as the main currency in the calculations will reduce the likelihood of corruption in some areas, but at the same time, due to its security, it can open new directions for bribery.

It is bitter truth mate that corruption has become a part of our society, now if you want admission in a college you will have to give a lot of corruption for it, as you said people around us who belongs to the rich rank of the society are the most corrupt as it is in their blood only GREED that make them corrupt, they do this for increase in profit and money, bitcoin being use for it because bitcoin is anonymous currency no one can trace sender and accepter at all, so I think bitcoin personally has no connection with reduction and production of bitcoin corruption but people use it for all kind of deeds.

[orkoso]

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.

You are speaking about corruption by means of intermediaries, but I don´t think it can reduce corruption due to mere social habits or government acts. I just hope it does increase or serve corruption.

[GamingBro]

Corruption is not the thing that can be reducet by currency. It's on people heads from the begging of history and it's can't be solved anyway.

[Dissident991]

It can, because you can see all transactions in blockchain and you can't hide anything. It is easy to track corrupt criminals.

[natka]

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 that if the government does not take control of bitcoins, then there will be no corruption. If you start to control crypto then corruption will affect bitcoin.

[MoneyCrafter]

The blockchain technology can reduce corruption in the government but only if it is become fully used in mainstream.

[Cloak1]

The problem of corruption is human beings not because of the financial system, as long as human beings have culture for corruption then as good as any system is so useless that they will continue to corruption, the presence of bitcoin will not bring any impact for them.

That's absolutely true. Human beings are the main factor of corruption. As long as they have intention to corrupt, the most sophisticated technology or system like Bitcoin won't reduce the corruption.

[Xintenson]

The only way to reduce corruption is if we were able to identify corrupt people and removing them from all fields. Throughout humanity we have always had currupt people. Bitcoin is not going to change that. They will adjust to anything.

[platot]

i think no, because bitcoin is separate from government.

[Sled]

i think no, because bitcoin is separate from government.

It is separate from the government as of now but in the future, if the government accepted bitcoin and make it as a legal currency then it will be the time that the government can use bitcoin to monitor the transactions of their employees through blockchain so they can really see if there is something to worry about or just a normal thing to expect.

[isyot12345]

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 hope so, if bitcoin become legalize ,the corruption will become reduce,but not totally eliminated,because as far as i know,that everything happen in the whole country,there is an corruption of the government.maybe bitcoin will reduce corruption because every people have there own way of income.

[deppil]

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?

Probably they are going to ban it because there are some politicians afraid to loss their ill gotten wealth.And we know that onced bitcoin is legalized,it can destroy corrup politician because ther are no more money from the government will be stolen.And if ever this would happened,there will be a big changes to our economy.

I don’t really believe that it would be easy to reduce corruption with bitcoin. Conventional currencies can easily be regulated, and you can also trace when money is stolen in government. But with Bitcoin, meehn, it will be a really difficult case to identify when money is stolen and who the victims are.So Bitcoin is not a solution to stopping corruption. Think twice about it.

of course bitcoin is not the right way to reduce corruption. even transactions bitcoin is anonymous? would make it difficult for the government to do tracking on one's transactions. maybe you mean digital currency? it will reduce corruption because all transactions can be seen and tracked easily. digital currency and cryptocurrency have differences

[donowa]

I don't believe it will. It may even increase it.