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Author Topic: Politicians fear cryptocurrency because it will stop corruption.  (Read 1007 times)
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August 25, 2018, 08:35:46 AM
 #181

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

I agree with this, politicians tend to have kickback in every task they deal with projects. At the same time they are afraid of being transparent and that will crypto do. Letting people see your transactions every cents of it. That is probably the reason, at the same time those people thinks only there own. Cryptocurrency is something that we should be thankful of.

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August 25, 2018, 09:06:00 AM
 #182

This is true only in some countries, why do not you think that politicians can use the Cryptocurrency industry to launder money?
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August 25, 2018, 09:45:24 AM
 #183

At present, politicians and governments have got a glimpse of cryptocurrency. Corruption is not related to cryptocurrency, there are many forms of corruption, your opinion is only true in one aspect.
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August 25, 2018, 10:07:07 AM
 #184

I think the politicians are not afraid of cryptocurrency, what they care about is probably the tax on cryptocurrency. Collecting taxes and tax evasion, politicians want both of these
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August 25, 2018, 10:16:40 AM
 #185

Blockchain will be helpful to any country if they adopt it specially those who have high corruption rate. This technology can be used to monitor government funds and how politicians spend peoples taxes. No wonder if some countries might refuse to use, simply they don't want transparency and get caught.

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September 09, 2018, 03:24:22 AM
 #186

Very mono officials earn, control budget money. If we assume that at the state level, the blockade of technology will be allowed and implemented, then this will benefit ordinary people.
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September 15, 2018, 07:52:28 AM
 #187

Meaning you still have partial protection from the crypto currencies. You can never know the names of people in this industry. All you can know is XYZ address sent money to ABC address or CDF address is having 1000K bitcoin stored. etc etc. But this always keeps up the anonymity of the users and thus politicians may not get hampered with this.
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September 15, 2018, 11:38:50 AM
 #188

yes cryptocurrency has a very positive impact on politics because it can avoid and stop corruption because all assets owned by the government will be known by all people. so it will be very difficult if used for corruption.
Corruptors are criminals, so they will always look for loopholes to commit their crimes, in this case steal public money. Therefore they always reject crytocurrency applications, because blockchain technology can thwart their crimes. With this system all data will be stored in a network of interrelated servers, making it difficult to manipulate or abuse to  corruption.
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September 15, 2018, 11:58:08 AM
 #189

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.
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September 15, 2018, 12:22:44 PM
 #190

No. Politicians fear many things but not bitcoin. The anonymous structure of bitcoin makes it possible for criminal activities to carried out using bitcoin.
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September 15, 2018, 12:32:06 PM
 #191

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

They may be afraid of ending up the corruption but they can still earn good income by investing in crypto,but ofcourse thats a different question and idea

But whatever they do no one can stop the pursuing community of cryptocurrency to prove the universe how functional and how beneficial this virtual currency is,and this is enough reason for us to understand why and how..

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September 15, 2018, 12:50:20 PM
 #192

Cryptocurrency looks to protect corruption with the anonymity of the account owner. For such big transaction it can only be over the counter where money laundering can be punished but if it succeeds, a lot had been protected. After this every other transaction will be online which can only traced if noticed, If it is handled by a secured hand it could be more tedious to monitor.

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September 15, 2018, 01:01:04 PM
 #193

technological advances have made it possible to dramatically increase the accountability and transparency of public financing to reduce corruption. this digital currency that employs cryptography to ensure that transactions are secures a mode of payment for a project allows the identification of each user of the money, unlike with traditional modes of payment like notes and coins.

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September 15, 2018, 01:12:59 PM
 #194

Yes, it seems like that. Politicians fear cryptocurrency because it will stop corruption.

As we know, Blockchain technology has several features that are inherent and distributed transparently. Every cryptocurrency transaction is recorded on every computer that fully participates in a network known as "full node", I think it will make certain corruption methods basically impossible.

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September 15, 2018, 06:35:01 PM
 #195

Agreed. Probably that feature is what their fear the most, modern politics is very corruptionized and crypto may really fix that.

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September 15, 2018, 10:37:01 PM
 #196

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.
I really think that the reason they fear cryptocurrencies the most is not because it's going to stop corruption, the main reason is because they are going to be out of work, many of the things that cryptocurrencies can do will affect banks and governments directly which means that all of those people are going to lose their jobs, something that they are not going to be very happy about.
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September 15, 2018, 11:39:28 PM
 #197

I don't agree with this because I think cryptocurrencies don't provide transparency. We don't know who is the owner of the wallets. I think governments don't like cryptocurrencies because they can't collect tax from unknown wallets.

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September 16, 2018, 04:00:40 AM
 #198

Cryptocurrency can reduce corruption. With transparant ledger, every transaction in blockchain can monitorized. But government can not identify who is the wallet owner. Blockchain can create transparant system and combine with government service, i am believe its very useful to reducing corruption

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September 16, 2018, 05:57:27 AM
 #199

corruption comes from people, not from the money itself, so the change of money laundering will not change if you change the currency Undecided

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September 16, 2018, 07:46:46 AM
 #200

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.
Why should politicians be afraid of decentralized crypto currency and how can it stop corruption? Do politicians refuse to take bribes with a crypto currency? In my opinion, the Crypto currency will even contribute to corruption, because it is relatively anonymous and for servicing the corruption process it is very convenient.

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