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Author Topic: Possible use of bitcoin in public welfare schemes/fund utilization  (Read 2839 times)
spndr7
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March 02, 2014, 06:23:17 PM
 #1



Crypto-Governance


Bitcoin could be used for bringing transparency to current hierarchical fund distribution for public welfare schemes.

  • Each officer/office will have a official public bitcoin address.
  • Movement of all funds can be traced publicly.
  • This would plug all the loopholes, which are used to steal public money.
  • Legal documents and official communications can be signed by their public signatures.
  • Govt. would just need to keep track of officer's public signature, instead of going through the current process of certification by cca.gov.in .
  • If any misuse of private key happens, then officer will hold full liability, and immediate penal action can be taken.  
  • Govt. can open a public tender for submission of open source crypto-coins, if a new coin is needed according to the terms of govt.
  • As mining would generate coins on the terms of govt., it can be declared as alternative currency.
  • In time, fiat rupee would be phased out, removing the heavy burden of controlling and tracking of money from govt.'s shoulders.
  • A Cryptocoin Regulatory Authority have to be established to authorize and implement popular public demands in crypto currency's source code.
  • Cryptocoin Act may also be needed to be passed to legitimize its usage for public services



Please feel free to give feedback and suggestions of what you think about crypto-governance.


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Neo.op
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March 04, 2014, 10:26:40 AM
 #2

Check Auroracoin - they aim to kickstart the coin by giving them free to all Icelanders. If, a big if, there is government support/people's support - many things listed out might be possible.

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atc1
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March 04, 2014, 10:32:44 AM
 #3

Check Auroracoin - they aim to kickstart the coin by giving them free to all Icelanders. If, a big if, there is government support/people's support - many things listed out might be possible.
It's already going ballistic. But only after the actual distribution can we see how this will work out.

Neo.op
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March 04, 2014, 11:09:54 AM
 #4

Check Auroracoin - they aim to kickstart the coin by giving them free to all Icelanders. If, a big if, there is government support/people's support - many things listed out might be possible.
It's already going ballistic. But only after the actual distribution can we see how this will work out.
I am a bit concerned about the pricing. With 50% pre-mine its kinda iffy as to how the prices have gone so high. It might be due to the future expectation of market in the coin (or a pump as others will say).

That said, if it proves acceptable it might pave a way to Crypto-Governance.

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spndr7
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March 04, 2014, 01:12:59 PM
 #5

Check Auroracoin - they aim to kickstart the coin by giving them free to all Icelanders. If, a big if, there is government support/people's support - many things listed out might be possible.

If a similar project was started in India, we would need to distribute paper wallets to at-least 56 crore Adhaar card holders.

spndr7
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March 05, 2014, 10:27:38 AM
 #6

Live e-transaction analysis tool by the Indian Govt.

http://etaal.gov.in/


Bank transactions (under category C).

e-taal brief overview

Quote

eTaal is a web portal for dissemination of e-Transaction statistics of Central
and State level e-Governance Projects including Mission Mode Projects. It
receives transaction statistics from web based applications periodically on
near real time basis.

Services
eTaal presents quick analysis of transaction counts in graphical form (Bar
Chart, Pie Chart, Bubble Chart, etc.) and as Tabular Statements to give quick
view of transactions done by various e-Governance projects.
 
Benefits
Provides visibility for the National/State level services of e-Governance
Projects and presents status on actual utilization of various systems running
at various locations.

Target Group
Any department or government organization offering G2C, G2B or G2G
services.

This is the first steps in real time public transaction monitoring, but real transparency can only be achieved by decentralized and distributed public ledger with verification system like bitcoin.

superresistant
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March 05, 2014, 10:39:15 AM
 #7


Before talking about crypto-governance or world-governance you must destroy governments.

Here's my bag so you don't ask : Bitcoin, tenX, iexec, byteball and pepecash
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