Politicians fear cryptocurrency because it will stop corruption.

[Maricel2017]

If the governments are currupt they can do it with no exemption, here in our country crypto currency was adopted by the government but they do not used it for the government fun but they are invested and holding bitcoin because they see the potential ability that they can able to get high income by doing investing.

[Rooster101]

I think there is no possibility that cryptocurrencies will stop corruption in the government. Political corruption are based on greediness, their tendency to acquire more wealth through illegal means. Corrupt politiciabs can acquire any amount of bitcoin because it is decentralized and the transactions are anonymous, no one will know who owned the bitcoin including its wallet addresses, only the owner.

[bitcoinveda]

cryptocurrency will definitely bring transparency to the  public in terms of spending of govt funds and even records maintaining  ledger through blockchain technology

[margaret22]

True, unfortunately there are many corrupt governments, like my country's, and so full transparency would be very bad for them, I guess it would open many people's eyes. Or at least some people's, sometimes I also feel, some people simply do not want to realise the truth.

[senin]

The ones who managed to steal money via corruption will find a way to do so even if there is a cryptocurrency revolution. And those leaders are usually fond of very centralized systems, so maybe the decentralized nature of crypto is what might make them suspicious.

That's for sure. Politicians are not afraid of cryptocurrency due to the fact that it can defeat corruption. Unclean politicians may well use the anonymity of cryptocurrency for their dirty business. The reason for the reluctance to implement cryptocurrency is precisely that they are afraid of losing their power due to the fact that the cryptocurrency allows you to relatively uncontrollably move any amount of money, and money always means power.

[NeuroticFish]

Crypto has better chance to help corruption than stop it.

And I think that there are more types of politicians.
* The uninformed ones may fear crypto. All dinosaurs fear of new things.
* Then the informed ones
    - some already use crypto for investments or to hide dirty money
    - some go by what the banks tell because the bankers will support them while we don't "reward" the politicians like that
    - some just don't care

[mcTether]

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 with the transparent nature of cryptocurrency and the blockchain, corruption can be reduced to a great extent. But I still have my reservations about some wallets that may be used for embezzlement without been able to be traced.

[Antianara]

I think in a different way when politics uses Bitcoin. Inflation or money laundering may occur in the campaign. Because Bitcoin itself has existed on two sides.

[Chrisjay29]

I think politician is more favor on this cryptocurrency. Because if you want to send your money you can easy send it without tracing on whose the owner of that money. The only they can see is when the transaction do other are cannot be known. Thats why this is the perfect way to hide illegal transaction

[Semosuchi Tesongrato]

It seems to me that it is exactly the opposite: politicians will take advantage of the anonymity guaranteed by bitcoin (it is not difficult, with any scramble) to receive money in secret. So, MORE corruption.

[Sadlife]

Actually no at all because bitcoin is still just a currency a tool to be use to send and receice money in transactions. Bitcoin has no intelligence or capacity to restrict anyone sending malicious transactions or aka money laundering or bad money. It is just a currency used to pay someone anonymously over the internet. In fact it can be a tool to be used for corruption by politicians because of it's anonymity.

[RivAngE]

Cryptocurrencies can't stop the corruption, even if our world was 100% based on blockchain money people would still be able to create anonymous wallets and trade in black markets.

However what would be interesting is voting on blockchain. If every voter would have to go in a voting center, sign his name in a list and then use a machine to register a vote in the blockchain, it'd be easy to compare the number of people who signed on a specific center and then how many votes were cast on the blockchain. If someone would try to add more votes then it'd be obvious to everyone that the number of votes are higher than the voters in the area.