Politicians fear cryptocurrency because it will stop corruption.

[Rooster101]

The politicians are used to centralized form of governance and if they come to power, all they want is a total control so they can do what they want to do in their governments. Being decentralized, bitcoin and cryptocurrencies can't easily manipulated by any person in power. They are already attempt to manipulate the coins like imposing strict regulations and or either ban it completely in their area of governance.

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[batang_bitcoin]

The politicians are used to centralized form of governance and if they come to power, all they want is a total control so they can do what they want to do in their governments. Being decentralized, bitcoin and cryptocurrencies can't easily manipulated by any person in power. They are already attempt to manipulate the coins like imposing strict regulations and or either ban it completely in their area of governance.

And this doesn't mean that they are afraid of crypto's because they can do whatever they want to.

[Tory-Tory]

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 think that the greatest fear for the government is the fear of losing control over transfers. Now most countries are trying to minimize the turnover of cash, and crypto-currencies are worse for them than cash.

[taiwww]

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 believe politicians might be the one who use the crypto currency on major level. Though it is transparent then also its not fully transparent as you are saying it here, it is more or less pseudo-anonymous. 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.

[patarfweefwee]

Huh. To educate you my friend. Criminals are actually using crypto currencies to launder their money and transfer funds for terrorist networks. They could always make a wallet fron an anonymous source and fake the papers needed for authentication. Maybe in the future authentication of identities will be better but certainly not today.

[Maks.fadeev1978]

I think not only politicians are afraid of bitcoin, because the blockchain is a real control over everyone, and not just contol to ordinary people like now. I think bitcoin will allow it and fight abuse with charity funds.
Because now charitable funds spend more money for their maintenance than for real help to the victims.

[spongegar]

It doesn't necessarily stop corruption. It is used. As a perfect vehicle for their ill gotten wealth. They could actually use their local wallets as a vehicle to make their dirty money clean by simply sending out fake information about themselves and get away with it. I just hope we could strengthen the identity verification of local wallets more.

[BigDig]

There are many reasons why politicians are afraid of crypto. Corruption of course is one of them. In addition, there is a factor of loss of control over money issues. In general, all the basic principles of crypto have always enjoyed low popularity among politicians.

[weeklyeth]

sooner or later politicians will implement blockchain and legalize cryptocurrency the main reason behind that is crypto currency are the future of money it yields more transparency

[Matic]

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.

it is reasonable thing to say but in my country, politics are rather choose to declare they are income in cryptocurrency because it is not get taxed, lol.

[Zicadis]

Its a good observation but I think not all politicians are afraid of this technology, maybe the corrupt ones are most affected by cryptocurrencies as they are very transaparent and is a characteristic which most of these corrupt leaders lack!
But unfortunately this technology is growing day by day making it unstoppable.

[stimliall]

The cryptocurrency is a double-edged sword. The cryptocurrency can survive on a system other than the bank, providing a convenient condition for corruption, but it can also query the transaction information of the cryptocurrency through the blockchain!
Corruption is inevitable, and cryptocurrency can only reduce the occurrence of corruption, and can not fundamentally eliminate corruption!

[bajingluncat]

I think it's not related, because I think it's the same corruption as fraud, although it may be true that crypto has transparent nature but I think there will be gaps for anyone doing negative things, maybe the politician is afraid not because of his crypto but because of the changes that will occurs as a result of the use of crypto, which I know whose name changes will be opposed by a handful of people who are already comfortable with monotonous lifestyles, so essentially whether or not crypto will have no effect on the level of corruption, because the corruptor will continue to think of looking for loopholes for smooth his intentions

[marseille]

Obviously, politicians are fear to this decentralised cryptocurrency. But they are all invest in centralised Cryptocurrency government is supporting to politicians because they only control the government so centralised platforms are favour by politicians and Bitcoin is rule the crypto market so they are all fear in this platform.

this is one of the advantages of bitcoin there will never be a corruption because anything withdrawals or transactions will have evidence and records of its own, want to use any exchange or purse records or your history will be recorded automatically so there will be no corruption.

[BTC_BTC]

you are right, the polycystic is afraid of bitcoin for that reason.
they can no longer do corruption, money laundering. because every transaction is done will cause a trace and it can not be deleted.

[peacefulpeace]

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 share your view, cryptocurrency is the answer to ending the fight against corruption, with cryptocurrency, politicians will find it difficult to sidefone public funds and divert such into private account because of the decentralized nature of cryptocurrency. funds meant for execution of public projects will be well utilized for the said purpose. i think cryptocurrency is the answer to end corruption.

[letstalkbitcoin2]

i share your view, cryptocurrency is the answer to ending the fight against corruption, with cryptocurrency, politicians will find it difficult to sidefone public funds and divert such into private account because of the decentralized nature of cryptocurrency. funds meant for execution of public projects will be well utilized for the said purpose. i think cryptocurrency is the answer to end corruption.

[meerkatoken]

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 share your view, cryptocurrency is the answer to ending the fight against corruption, with cryptocurrency, politicians will find it difficult to sidefone public funds and divert such into private account because of the decentralized nature of cryptocurrency. funds meant for execution of public projects will be well utilized for the said purpose. i think cryptocurrency is the answer to end corruption.

Well as others pointed out already the blockchain or at least bitcoin is not fully transparent. It can also be totally anonymous if you wish. So yes we can say that if the public money would touch the blockchain from that point you can track everything. While the rality is that you can check hashed data only. So you can tell that a government sent out exactly how much money for someone. But you wont be able to tell who is that person right? So lets say there is a 10 BTC investment in a sport facility renovation. You can see the 10 BTC to arrive but you dont know where.

On the other hand crypto could be the perfect solution for corrupt officials. I wonder what will happen if they discover monero for example. No need for a sechelle-island bank account anymore...

Two sided sword...

[jahda1001]

I see, the technology will continue to grow, not just Bitcoin, ETH, NEO ... And other wonderful things.

[mr777]

Non-existent technologies will be eliminated, instead of more socially beneficial technologies