Topic: Bitcoin as a way to avoid corruption (Read 1921 times)
legendary
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government will not easily accept btc because they'd will prevent this to happen and will continue to be corrupt again,don't you think corruptor exist most on the high position and they'll anything to prevent from being detected
I think Bitcoin in particular would be very reasonable and logical to donate in charities, in order to track where the funds are going to, and to see if your funds are being spent how you intended the funds to be spent by the charity. The problem lies in this fact:
Ex: You want to donate to a charity that feeds starving children in Africa. You donate funds to the charity and you see it on the blockchain. Now, the charity can't just use that bitcoin to buy food for the children in Africa, they need to change it into local fiat to be able to buy food. Now it goes into an exchange so the amount you donated in bitcoin can be changed to fiat. From there, you have no idea how the funds are being used, and we go back to the same problem before... corruption can still ensue.
Ex: You want to donate to a charity that feeds starving children in Africa. You donate funds to the charity and you see it on the blockchain. Now, the charity can't just use that bitcoin to buy food for the children in Africa, they need to change it into local fiat to be able to buy food. Now it goes into an exchange so the amount you donated in bitcoin can be changed to fiat. From there, you have no idea how the funds are being used, and we go back to the same problem before... corruption can still ensue.
So far bitcoin has achieved quite the opposite. Never has a currency had so high crime rates per total market cap. Volume and percentage of bitcoin transactions that are involved with crime are bigger than any other currency.
Anonymity has its side effects but if funds are public and known to be in custody of someone then it just becomes more difficult for them to spend it and not declare where they spent it. So in a way it can stop corruption but not crime until it loses anonymity.
Sure, but how could bitcoin bring transparency to political campaigns?
Can you share the link of the TED talk? Thanks.
Can you share the link of the TED talk? Thanks.
It's in spanish and it's mostly an introduction to Bitcoin, he just mentions the idea but doesn't go too deep (well the title is actually "Bitcoin and its threat to corrupt governments").
https://www.youtube.com/watch?v=J-h0h2ngdLg
I'm sure it would be a matter of time until people would figure out a way to launder money using digital currency just like they do with that though it might make it somewhat harder.
Sure, but how could bitcoin bring transparency to political campaigns?
Can you share the link of the TED talk? Thanks.
Can you share the link of the TED talk? Thanks.
So far bitcoin has achieved quite the opposite. Never has a currency had so high crime rates per total market cap. Volume and percentage of bitcoin transactions that are involved with crime are bigger than any other currency.
The biggest problem is convincing those people to submit their accounts into the blockchain, how are you going to do it unless there is a law that forces them to run all of their money movements transparently throught the blockchain? They will not do it out of good will.
I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
No. BTC would not change anything, and BTC would not give more information. Most citizens don't bother looking but most countries and big charities have all accounting books open to the general public. I think the most open is the UK. It launched the open government initiative a few years ago, and everyone can check what's going on.
http://www.opengovernment.org.uk/
https://data.gov.uk/
It's very boring to look at, but it's all there if you're willing to take the time to search properly.
Yes but accounting books are not nearly as transparent as the Bitcoin ledger plus no audit is 100% trustworthy. Every single Bitcoin transaction is accounted for in the Blockchain and can be traced with precision. It is impossible to cheat the system or shift the blame to human error.
Who could check the blockchain to see what's the government is doing?
Does anyone here seriously thinks it's possible?
Do you guys realize that an average country like the UK is doing more than 50 millions transactions each month?
And it's very easy to hide one transaction among thousands others...
I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
interesting, where is the link?
The link is in spanish and doesn't really explain how will it actually work, it was just the idea of how we can keep track of how the state manage its money so I thought it was very interesting. I understand many of you come from countries like the US or western Europe where corruption and bad usage of funds is not as rampant as in my region (South America).
Either way, my idea for the the US would be to implement it in the political campaigns or charities. I know most already make their funds public, but with the blockchain it will be even more easy to control and harder to manipulate or falsify.
I think this is one of the most doable ideas really since we are not talking about companies or banks. And it can be just small to start, if I had a little charity I would definitely advertise this as a way to ensure safety and attract more donations. Once the ball starts rolling, this could be copied very fast by others if it works.
i'm sure it will work but only to private organization, it would take a lot of sales talk before you can convince the government to simply say yes to that fact. They want the control and blockchain can never be on their control.
Maybe you'll start on student council/officials as sort of feasibility studies and then results can be shown to the public/online. That will probably be just where to start.
I had a thought along these lines. The idea is make it an option to make your tax payments directly to gov depts or organizations you want. A % of the budget is controlled directly by persons paying taxes and not though your representation. Bitcoin makes verifying these types of payments possible where checks/credit cards would add too many administration costs.
https://bitcointalksearch.org/topic/m.13078594
https://bitcointalksearch.org/topic/m.13078594
All governments of the world they have their ways to cover the secret funds even blockchain is transparent.one thing is sure we are moving towards a cashless society and governments have already planned to tackle it for sure.
Bitcoin flows over the blockchain which is open ledger and provides maximum transparency to reduce corruption to minimum level.This is very difficult part for any government to let everyone know the spending of their taxed money's usage. Governments has many things to spend on in hidden way.
There are some secrets that needs to be protected... paying for intelligence and counter terrorism strategies. Many tenders not related to National security can be made
totally transparent. The problem is, most private companies dealing with governments do not want to publicize this information or even want people to know what their level
of involvement is. You have to be selective, when you apply this strategy to every scenario or event.
totally transparent. The problem is, most private companies dealing with governments do not want to publicize this information or even want people to know what their level
of involvement is. You have to be selective, when you apply this strategy to every scenario or event.
I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
i think that is very possible. As we know all transaction is visible for public.I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
So, everyone know what will our money will be use for what.
That was a little benefit if bitcoin is implemented in government system.
Yes that is the all essence of the digital currency. To make the running of things better and easier. I am thinking if i really wanted to have a donation to a child who lives on the different continent with me, I will really go through lots of hustle just to have the money reach him or her. The bitcoin when well used will be of great help to us. With the digital currency, we are sure that the accountability factor will be easy since the figures can be extracted and computed when needed unlike today.
I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
Have no meaning for me this proposal if must be applied for the givers. Everyone who make donation or give money for a foundation or make charities have any kind of obligation to do those. So have no meaning to be controlled. Only thanked. It is another thing the management of this money. There yes, can be place for transparency. Maybe more than in much other areas. Because being money of "no one"; everyone who donate or make similar things rarely is a hard (or even easy) controller of the money that give. They normally give the money pushed by personal convictions to help (and this mean not control because of the nature of this act) or because know the people who manage such activities. This situation make hard for them to ask explanations. And if the money go in wrong hands they vanish before go to the destination. So the proposal made by OP is more than a good one and more than useful. The problem is only one: it is impossible to be fulfilled. Who from them who manage such kind of money would want have such kind of control? Maybe not more than the fingers of our hands. Not enough to be able to impose their will to the remaining people of the same "race".
I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
Well, my impression is that Bitcoin can help stop corruption, however if you stick to that permisse you probably are making the wrong use of bitcoin. Bitcoin was devised to give total freedom to the user no matter what his intentions are...
government methods are not transparent and not even fast enough . so bitcoin gives government a good compitition and even banks facing the same thread too. we know bitcoin is still not the best ( yes it has many dis advantages and its risky too ) but still it has some points by its side which are better than our government and the banks . we are living in future and soon we will be the most elite gentalmens as soon as bitcoin price reach 2000$
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