Do you think that bitcoin can reduce corruption?

[monomix]

transparency is part of blockchain and in that part bitcoin may prevent corruption. the question is if the govs truely want to eliminate corruption.

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[darren1221]

Blockchain technology such as Bitcoin can not just reduce but in fact eliminate corruption, as blockchain is a shared ledger which is shared either publicly or privately between multiple entities. All transactions are recorded on the blockchain, and once added these records cannot be deleted or updated, i.e they remain in the blockchain forever.Moreover, all these records are available for anyone on the network, that is anyone can view and verify these transactions. Therefore since everyone knows all the transactions that have happened in the past, there is no way to cheat the system. That is why, it is known as a trustless trust system. Blockchain provides a secure, efficient and trustworthy way of working. It is because of these advantages that organisations are interested in the blockchain, already a number of banks have invested in blockchain technology. There are various companies that are helping businesses to apply blockchain in different areas. For example in India as well, companies, like BlockSmiths, a consultancy helping businesses to utilise blockchain technology are coming up. Seeing the elevated interest in blockchain in the recent years, it can be said that blockchain has a promising future, and we can all look forward to a significant decrease in corruption.

[gamaman990]

it's impossible. Currencies are not the cause or sole means for corruption. People are ingenious when it comes to bribes, embezzlement, or any other illegal activity. Not possible to weed it out by simply using a crypto as currency.

[Nyeyzel]

I think, corruption is everywhere in government or private sector, can bitcoin reduce corruption I think yes it is possible in the way that people can earn extra money and the needs for financial will be lessened. so the temptation to steal or corrupt money will may not happen or reduce a little bit.

[esa2782]

no, corruption is a mental state and greediness, it can't be tamed or erased by bitcoin, i don't see any relevant connection between bitcoins and corruption, if we agree that bitcoin is a digital money, so corruption just have another source or way of payment, corruption is a problem with authority, power and control, when you have it you will have a great chance to abuse it, so by saying that bitcoin with its decentralised and private system will reduce corruption is little bit out of context.

[Renampun]

corruption will continue to exist and can not be eliminated, corrupt actors will continue to look for the latest ways to launch their actions,
and I agree Bitcoin can reduce corruption because with its Blockchain all transactions are recorded in Blockchain's ledger and everyone can see it very transparently.

[Elsie123]

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?

You guessed it right: they'd just ban it whenever they feel that the competition is getting tighter and stricter. I for one believe that bitcoin isn't going to alleviate any of the world's existing monetary/economic problems related to governments and bank, but at least it will help the financially oppressed to have something for their own without being spied or milked by the banks/government.

[johnnythunder]

Human's want area unit perpetually insatiable that is that the reason many individuals reliably let that ravenous motivation overpower them to the condition of being degenerate. This cannot be modified by bitcoin since it is not a sort of safety effort or one thing that will keep someone from being degenerate. The people United Nations agency area unit degenerate have reliably been discovering approaches to try to to their filthy arrangements and that they can reliably do. Bitcoin can haven't any impact on it.

[Harley29]

Human's want area unit perpetually insatiable that is that the reason many individuals reliably let that ravenous motivation overpower them to the condition of being degenerate. This cannot be modified by bitcoin since it is not a sort of safety effort or one thing that will keep someone from being degenerate. The people United Nations agency area unit degenerate have reliably been discovering approaches to try to to their filthy arrangements and that they can reliably do. Bitcoin can haven't any impact on it.

This is true that bitcoin is a valuable asset and for those who know the importance of bitcoin, bitcoin is the new way of earning and it has very strong fact to change the life of people. As a currency for me it does not have any connection to the corruption because bitcoin has its own world and it is very different from the other curries, bitcoin is increasing the fair income of all people who are making earning with bitcoin for daily hard work.

[kateycoin]

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?

Maybe no or yes because in terms money some people will doing bad like in government some of them are corrupt. I think in government even there a someone that want to be transparent for everything,theres some one too want to put economy down. So I think the problem is people not bitcoin. Bitcoin is invented to use it as payment to make everything easy for us.

[TheEconomists]

Numbers of scammer are on the rise in the crypto community and if Bitcoin or crypto currency in general cannot solve the problem of corruption i think that the adoption of Bitcoin by the government will in any way change the mind of the corrupt minded individual.

[DeadCoin]

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 depends on the government. IF they realize that crypto currency will enhance their status amongst all other nations ecomomically then yes they would adapt.

Corruption depends on individuals. Either this can be fiats or crypto currencies, if one decides to be honest to himself and to the country he lives in, then he would not dare to corrupt himself or his country by any means. If not, crypto is not required, his fiat itself is enough for him to do corruption. Its unavoidable but can be controlled over the period. The nations can be cleaned without corruption.

[RAAAMA]

I don't think that bitcoin will be the one to reduce corruption but the technology behind it. Blockchain technology I think is the one who could help reduce corruption due the the smart contract and block technology. Imagine removing the middle man and the manual processes along the way and replace it with the smart contract. Once execute, one can change. And it should be executed very properly. That will definitely help corruption to lessen.

[zanhef24]

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?

Maybe time will come that crypto currency will legalize and regulate in the whole world and its possible now to reduce the economic corruption because as of now bitcoin is not yet well known for them they don't know the process yet so economic corruption can possibly reduce in a short time.

[rickyNmorty]

It might not reduce the corruption since the governments of these countries could just ban and ban cryptocurrencies whenever they feel that the competition is getting tighter. But at the very least bitcoin has provided the commoners, especially the ones that are financially incapable, to have investments and properties they own.

[Aleth]

I hope and pray that when countries accept bitcoin it will really reduce corruption. But as far as i know if corrupt people will come to know this crypto bitcoin with high value, they will still continue to corrupt now using bitcoin through blockchain fees. hope its not.

[okwang231]

for me maybe bitcoin reduce and corruption in our country because if many people use bitcoin surely a country grows because bitcoin is open for all human or adult maps they can use it so for me to believe I'm the bitcoin that answers the corruption.

[Konco126]

I think bitcoin does not reduce corruption. I am sure among campaign managers there is corruption. Today many governments banned bitcoin, signaling that the government does not want economic system more transparent. Because although it has been replaced with a transparent economic system, there must be some people who act corrupt. Today it is quite difficult to distinguish people who are completely transparent with closed people. Seen from the outside are the same, but we don't know when viewed from within. Many chances are some of them are already corrupt.

[doraegun]

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?

Actually BITCOIN will Totally reduced corruption if ever it is a one currency used in one nation because no fixer involve here  like a real world in government it is only one person who manage their account also only person to person can always manipulate if there is transaction involve through bitcoin process. so when it comes to generate income for their government they will just make a proper guidelines or proper module on how to earn income coming from bitcoin for the government progress.

[sicnarfkswiss]

I think bitcoin is nothing to do with corruption, Government officials will always find their ways to corrupt be it bitcoins or fiat. The amount of Fiat wont be affected by btc. So they will have lot of it to corrupt.