Do you think that bitcoin can reduce corruption?

[jhamz03]

I think no, bitcoin can never be a solution to reduce corruption because bitcoin is a digital currency that only exist on a world of digital technology and created with a purpose to reduce the problems faced by common people while performing banking transactions on their daily life. Furthermore bitcoin can only prevent corruption on the blockchain because of the blockchain database that is more secure and the ledger is impossible to make any fraudulent act.

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[Cryptosaphire18]

I think no, bitcoin can never be a solution to reduce corruption because bitcoin is a digital currency that only exist on a world of digital technology and created with a purpose to reduce the problems faced by common people while performing banking transactions on their daily life. Furthermore bitcoin can only prevent corruption on the blockchain because of the blockchain database that is more secure and the ledger is impossible to make any fraudulent act.

It may prevent corruption in theory absolutely.With an immutable, transparent ledger that is fully audit-able.The challenge comes from implementation.In the developing world its implementation would be in the medium-term and probably linked to any development funding.The prime aspect of blockchain that helps fighting corruption is its transparency. The blockchain not just stores all the transactions in a ledger but also makes it accessible to all the nodes in the network thereby providing a transparency to the users.

[android17]

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?

Corruption is not rooted on the currency but dependent on the people who manipulates it. Corruption will never be reduce if there are still selfish one's who are drunk with money. It is hard to clearly remove these individuals for being contented will also be dependent on one's standard of fulfillment.

[ityandsyn]

Definitely yes, using bitcoin for payments  can reduce corruption or totally eliminate corruption because this is digital in nature. It is all numbers in the computer which is  very easy to account or audit during and after transaction. Unlike to the real money were using that it need to count by hand and store at safety deposit box or send to the bank for deposit which is a very hectic activity and prone to corruption.

[bentong talong]

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?

In a way I think it could reduce corruption but it would depend on how bitcoin is being regulated. Bitcoin has made a big noise over the past few years and it made the government more cautious about the rise of cryptocurrencies. Some countries has already banned bitcoin because of the threat it has brought to them. We can't expect everyone to side on bitcoin, they would always find way to take it down.

[criza]

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?

Every country's government has different views about bitcoin. Some of them see bitcoin as a threat to their present currency and it may poison the mind of the people to benefit them more while other countries sees it as an innovative solution for the improvement of poverty and economy. Corruption is inevitable specially for those who uses bitcoin's power to become more wealthy.

[wareen]

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?

In a way I think it could reduce corruption but it would depend on how bitcoin is being regulated. Bitcoin has made a big noise over the past few years and it made the government more cautious about the rise of cryptocurrencies. Some countries has already banned bitcoin because of the threat it has brought to them. We can't expect everyone to side on bitcoin, they would always find way to take it down.

For which countries can not manage the speculator, they will ban Bitcoin and cryptocurrency. You have to remember many people are investing into cryptocurrency without any knowledge about cryptocurrency and experience about trading, investment. They do not know the fact of this market and will be the food for the whale from rich countries like Japan or U.S (Wall Street), U.K, etc.

[Llyrmyst]

I don't think so, because bitcoin produces money and income for those who invest and those who use bitcoin, as long as greedy people exist in this world corruption will never be eliminated and those corrupt government official with the their money as power they can always do what they want.

[Bitompel]

not agree . In the event that the administration are confiding in bitcoin, I figure it will diminish debasement since they will have no motivation to degenerate. They are adulterating on the grounds that they require the cash however in the event that they have enough cash, they won't get cash from the expenses of the general population. Debasement is nothing to do with the bitcoin. Debasement is truly on the administration. It is their temperament to be degenerate not everything except rather a large number of the administration authorities.

[Saodesu]

Bitcoin can truly decrease the defilement in light of the energy of the blockchain or the online record, we can see the exchange that the general population who are as of now driving so we can see and say on the off chance that they are doing the things in the correct way or not. Bitcoin is a route for us to achieve decentralization and more straightforward government.

[EnricoGomez]

No. because to the politicians now are easily blinded on the money they see or handle in their positions, specially on the huge contracts and projects imposed by the government and it is easy money for the politicians. But bitcoin is a  digital currency that acquired by individuals who use the internet and dedicates their time earning it.

[Elips1]

Bitcoin is not easily to be stolen because it is an electronic currency that could not control by any  banks, institutions or groups, because it's a decentralized. So it is impossible to be corrupt or stolen by the irresponsible leaders and thieves. Bitcoin is highly recommended for reducing from corruption. Only for those individuals had an access could  able to control their personal crypto account.

[Boximuss]

 I am sure yes. Maybe not bitcoin, but blockchain.  Special cryptocurrency for the government will allow to check all transaction and budges.

[mickeybuddy27]

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?

Corruption is not rooted on the currency but dependent on the people who manipulates it. Corruption will never be reduce if there are still selfish one's who are drunk with money. It is hard to clearly remove these individuals for being contented will also be dependent on one's standard of fulfillment.

Right, currency has nothing to do for corruption to be reduce. As long as there are people that using their power to get wealth become more greedy when they find it that bitcoin is good investment and never be contented on what they already gain. Innocent people who finds job through bitcoin suffer when they ban it for their sake.

[Xanxus024]

For me I think government will implement a law about putting tax on bitcoin if that things happen it may also lead to corruption but not only happen to the government officials it also happens to those greed people.

[Yakult]

I don't think so. Bitcoin is much easier to use in illegal activity and transaction. It doesn't make sense to me if any currency can reduce corruption since money is always the root of corruption. Better keep the bitcoin transaction legit or else government will be forced to shutdown everything.

[icoworld]

Corruption is the choice of people, not currency, so until people start to think that it's bad the situation does not change

[jcarlo]

Bitcoin not corralated with corruption behaviour. Corruption is about mentallity and bitcoin just a tool on economic activities. If goverment want to reducing corruption, goverment have to build transparant system maybe using blockchain technology that offer transparancy

[CryptoSingleBrew]

In the same way that bitcoin can be used for illegal activities like buying drugs, it can be used by corrupt politicians (who are good with tech ). Bitcoin is an economic tool and any tool can be abused that way.The fact that it's anonymous makes it great for transactions used for corruption, just like cash. But the main disadvantage of cash in this scenario is that it has to be physically transferred from one person to another, whereas bitcoin is digital. Also, a corrupt politician could create as many anonymous accounts as needed to make his corrupt transactions virtually untraceable.

So cryptocurrenices themselves can actually be a perfect tool for corruption. I wonder if it is used that way right now. I imagine there would be some problems with getting cash from bitcoin, though.

[Semosuchi Tesongrato]

Well, corruption doesn't depend by what kind of currency or asset you use, so I don't think there is a relationship.
Eventually, with is anonymity, bitcoin can help corrupt politicians to receive money, so - at least in this case - it seems that bitcoin can't help