Do you think that bitcoin can reduce corruption?

[jokowi]

Late in 2017 Zimbabwe was hit by hyperinflation, severely affecting politics and economics. The inflation was so bad that the country had to quit the Zimbabwean dollar and move on to other currencies including the dollar. People are turning to Bitcoin to make a lot of money.

[rext]

Worldwide, inflation is on the rise. And if inflation can not be controlled, the consequences are enormous, affecting the entire socio-economic life of every country. Inflation can push consumers to switch to virtual currency

[King Sastro]

I think if the government is willing to issue a more transparent economic system of course this is a very good goal where there will be no more cheating but the question is is it possible that the government will do so. and if you do not want to use a more transparent system why to ban the existence of bitcoin and indeed I think all of this is in government control in other words they can do anything that is in the form of prohibition or even give policy by giving space freedom for bitcoin.

I agree with you, transparent system would make smooth governance, and by using the existince of bitcoin People in government will not do any violation, cheating, because it could lose your job or put you to jail, while using bitcoin you cant cheat. You have big assurance in the future you will become rich without cheating in the government.

It all depends on government officials, as long as their mentality is corrupt so to make government transparent is a difficult thing, bitcoin presence does not affect anything, I'm sure corruptors dare not put their money because it can make its value drop.

[MMA]

I think bitcoin can not reduce corruption is actually nothing to do between bitcoin with corruption. bitcoin is a digital currency whose presence makes a new breakthrough in the transaction system. i think bitcoin can be a place to store wealth of corruption. but it depends on the individual use bitcoin for good or for crime.

I personally do not think that bitcoin has any concern with corruption, bitcoin is simply a currently and still its use is very limited, i think that still most of the people do not know about bitcoin, Bitcoin will become more popular when more more more people will know about it, because still people are interested in bitcoin and their interest will continue increasing to people.

[MrRiuss]

on the contrary, bitcoin will increase corruption, because its anonymous. bitcoin makes corruptor easier to laundry their money

[greeklogos]

I think the opposite, as we know that the bitcoin feature is anonymous so everyone is free to keep money without identity, I'm sure that with anonymous features then all the countries do not like it, because it's hard to track down the bitcoin owner.

Bitcoin is not so anonymous as you say. The current history shows that all financial criminals where bitcoin used were easily tracked and uncovered. But the crypto market has many other coins without identity, such us Monero, ZCash and many others, they cost really few now, but the price is pretty stable and that helps to everyone cover their profit in this coins to not pay taxes or for the other targets such us corruption.

[nambunamba]

i believe it can be uses to reduce corruption with regulations especially using KYC. with it we can track all the transaction and check where the coin goes into. If all transaction goes with cryptocurrency no one can lie anymore and monitoring transaction will be more efficient and easier.

[Topaz72]

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?

perhaps it can. by transparant system it can be reduce corruptions. I hope it

Hope is the key of success and it can give you high amount of profit for your future, well I think it does not have any connection with the corruption but the corruption is the internal disease of people who are corrupt by nature, let them do this but if you are user you should concentrate on the aim if using bitcoin, you invest in bitcoin to get profit so use it for profit, everyone use bitcoin according to the mentality of the user so let it be, focus on your goal only.

[Evgenius1283]

Bitcoin is a tool for corruption. For just the first place that is not legally or borders with this concept. In countries, the outflow of capital is reduced, only because no one can track how much goes in bitcoins. To obtain the bribe and to take her abroad for the perfect operation of Bitcoin.

[PatronRH]

Yeah definitely bitcoin can fight corruption and reduce it. As a matter of fact being decentralized makes bitcoin a powerful tool to fight correuption because it cannot be controlled by any govermental organizations or any banks.  But on the other hand the fact that it is untraceable makes is also a powerfull tool for criminals and money laundering.

[knight20]

Corruption is everywhere, usually corruption is always in government like those politicians. They want to gain and gain more money even though they see their people suffer because of that. Bitcoin could only reduce the poverty but to reduce corruption in any country it is impossible. But the truth is they cant corrupt bitcoin only their government.

[icopir]

Corruption can not be corrected by a change of currency or some other means, it is the choice of people so if there are such people there will be corruption

[akishang]

I think it won't make any different from what it is before. Corruption will always be there at the government. Regardless if they are the most honest person in the world, the people around him will always be corrupt. Money is root of all evil, politicians are the best example of that quote. Even if they earn enough money on bitcoin, they will still find other ways to be corrupt. I was told money can be addictive especially if you were earning huge amounts because of corruption.

[yulionoo]

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 can reduce corruptor, and it can reduce corruptor.
the government need to control every market, and market must ask about kyc to us. so when there is something problem, the market can call to government about this person have some deal. so, government support crypto trough the market.
but it cant reduce if there are no kyc written in the data.

[BurhanPSG]

With blockchain technology I believe every transaction that we do will be recorded and it makes everyone can not do corruption. Now blockchain becomes one of the most popular technology because we can monitor every transaction we do.

[really01]

Yes.! That's exactly what the government is doing. No government wants to have something that they can not manage, and if something unmanageable, they will forbid it. If they can not find a way to manage it, then it's only time for them to ban it.

[Majharul Saiif]

Actually, Bitcoin is created for many reasons.To do work in  secret is one of them.For that reason, people use this to do many illegal things.That's why Bitcoin is so controversial to all.By the way,if the transaction will be tracked by others then the corruption will able to reduce by Bitcoin.Otherwise, corruption will happen by using Bitcoin

[castiloros]

bitcoin safe in the transaction but if safe from corruption I think not necessarily. Thus it can be difficult to track if the bitcoin used for corruption. Perhaps some people assume are safe but it's about how Government policy only because corruption itself can through just about anything.

[Sled]

bitcoin safe in the transaction but if safe from corruption I think not necessarily. Thus it can be difficult to track if the bitcoin used for corruption. Perhaps some people assume are safe but it's about how Government policy only because corruption itself can through just about anything.

That is why we have the blockchain that we can use to track down the bitcoin address that has been use by the government officials and that will become the way for us to be sure that the corruption will be reduced because with the use of bitcoin technology then there will be more transparency and there is no chance for the officials to corrupt since anyone can look up to their address.

[websoftwareengineer]

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, banks and cryptocurrency are somehow just the same because governments are envy of the growth of cryptocurrency that's why they are blocking the way of people to see the truth about bitcoins and that's is the reason why cryptocurrency sometimes is dumping due to the fake news that are being spread around the world.