Politicians fear cryptocurrency because it will stop corruption.

[entrepmind23]

This is true that the cryptocurrencies will stop the corruption because there is no way that they can corrupt the money of the people because the cryptocurrencies are transparent and because of that opportunity to have a transparent kind of system then the citizens or the people under those politicians can just see the transactions and identity and impeach the corrupt politician.

I really wanted blockchain technology to be implemented in the government system so that funds can be traced and those politicians that are handling the money cannot just easily escape the eyes of the people since it would be transparent then. I hope each of the department would have a designated wallet then so that transactions would be easier to trace.

One of the reasons a country doesn't improve is because of the politicians that are greedy for money and power that's why they are spending too much during elections so that they can get the vote of the people. If the system is transparent then, the corruption would be traced and people deserve to know what's happening with all the tax they have paid.

[Gibsonlda]

Different understandings because cryptocurrency will make it easier for them to do money laundering, data transparency only applies to transactions leading to financial assets in the bank, if the turnaround between wallets will not be easy to track, I think this is a misunderstanding, unless the government is able creating a system that keeps all crypto data tracked perfectly.

[Pattart]

This is true that the cryptocurrencies will stop the corruption because there is no way that they can corrupt the money of the people because the cryptocurrencies are transparent and because of that opportunity to have a transparent kind of system then the citizens or the people under those politicians can just see the transactions and identity and impeach the corrupt politician.

Yeah we know it, transaction is transparent, bitcoin transactions can be seen on the blockchain network, but you know how easy it
is to create a new address and you can have hundreds of addresses and anyone will not know that? corruption can still be done from that gap..

[kiloiko]

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.

That’s a lie. There is corruption already but I don’t think that Bitcoin can end it in any way. Despite that Bitcoin is transparent in some ways, I don’t see it as a good option for any country. It will even lead to more corruption cause it will. Make it even more easy for corrupt leaders to steal from their countries. If Bitcoin wasn’t that bad then why are hackers and dark web users making use of it.

[BitcoinMarketer39]

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.

In my own opinion, it was normal for politicians to be scared on cryptocurrency because they are corrupted and people will gain wealth over them.

[Fappanu]

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.

Yes it may be that politicians are afraid to know every money to enter their accounts. Surely they will not be able to do bad things to get some money from our taxes. So it happens that they will oppose the crypto currency and try to make issues so that it can not be approved to become official currency of the entire country.

[KenChanYu]

This is true that the cryptocurrencies will stop the corruption because there is no way that they can corrupt the money of the people because the cryptocurrencies are transparent and because of that opportunity to have a transparent kind of system then the citizens or the people under those politicians can just see the transactions and identity and impeach the corrupt politician.

There is transparency in cryptocurrency and it helps prevent money laundering. Not all politicians are corrupt, and if that's the case there's nothing to be afraid of if they sincerely perform their duty. In its effect, politicians will be more careful and would treat their job with utmost respect, humility, and I believe that it is of great advantage for them to religiously execute their responsibilities.

[suzanne5223]

I'm not the type that believed the politician fear cryptocurrency because it will only stop corruption cause crypto currency is more than that and what the politician fear most is the anonymity nature of cryptocurrency. Besides, they also fear cryptocurrency to make us and them equal cause cryptocurrency have the keys to national liberation.   

[tepakpak]

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 about it because the government will be easier to see transactions given to the village funds or the like, because their wallets are known and also transparent.

[Bakemat]

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.

Politicians are actually corrupted and they did not want the people in the community to become wealthy so they are afraid of the growth of cryptocurrency since people will prefer to work at home more than in the corporate world.

[Ilegendph]

Politicians are nowt afraid of cryptocurrency, actually this will made them more safe in having corruption.
it is just now that banks and elites are paying politicians to make steps on stopping the movement of cryptocurrencies especially bitcoin.
as this is a thread for them and a start for all the people to control the currency.

I believe that they use cryptocurrency in corruption for not so long because if their country would be regulating cryptocurrencies then it every transactions and huge amount of money he hide using crpyto would be in question by the government.

[basyang]

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.

Well, I do not think politician can not used bitcoin in corruption, maybe it will be one of their tool to do it though. Hopefully they are not. Its a big trouble for bitcoin community if this thing happened, because it will be of the reason why some countries will not accept it anymore and the government will be banned it forever.

[brolekset]

of course I agree with you! Politicians are now afraid of the crypto currency, in fact it will make them safer in corruption.
right now, banks and elites pay politicians to take steps to stop the movement of crypto-conversions, especially bitocoins.

[Kang Bahar]

Accordingly, for example, if we order to bring all financial income of people to the register, give each wallet that will be registered in this register, we will see official figures. But the problem will be in another, any person will not have the trouble to create another purse and accept black money there.

So, the transparency is blockchain, not cryptocurrency. Because blockchain shows all transactions with different nominal amounts and nothing is hidden in there. The conclusion is, cryptocurrency will not able to stop acts of corruptions, only implemented of blockchain technology in government will stop the corruptions.

[South Park]

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.

Politicians are not that smart, many of them do not even have the knowledge to understand what bitcoin really is about, they fear and hate bitcoin because they were told by their bosses, the banks, what they need to do and that they need to stop it, banks are smart and they understand very well that bitcoin if allowed to grow will be a disaster for them and their profits.

[Kris34]

They will still find something to work on, even if the crypt is accepted.

[ngamuk tok]

you are right, politicians are afraid because the work of crypto is decentralized.
if they use crypto as a tool of state interest, then greedy politicians are no longer free to corrupt.

[7Dyoknga5]

I don't know about the statement but cryptocurrency's decentralization could help politicians to do anonymous transactions, if let's assume crypto would be the medium of transactions.

Rightful politicians might fear crypto for the corrupt ones to use. No law yet states that crypto is part of government officials assets for them to declare, right?

[bajigur894784]

Yes, when cryptocurrency technology has the potential to reshape global finance, politicians issue the opinions and talk about volatility, the potential for money laundering or other crimes. But I doubt it because I think that the open concept owned by cryptocurrency can be used (especially) in developing countries to follow the flow of money more effectively and reduce corruption.

[Elpeor00]

Maybe cryptocurrency can do more than stop corruption, you can see corruption, excessive bureaucratization and unfair taxation as today's manifestation of the predatory nature of every historical state, in that case cryptocurrency, making most of these affairs very transparent or outright unnecessary can maybe lead to more fair methods of goverment, but it will be a long term effect of the technology's expansion.