Can Bitcoin be effectively used to curb corruption?

worle1bm

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Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Corruption a major problem in developing economies which hinders the growth of nation cannot be overcomed till its backed by the government whatever methodology you apply. So if we can trace government transactions in blockchain we could have a eye on them but still there is probability that it erodes the limits and follow some other methods to do so.But one aspect is that it is decentralized currency and not controlled by any financial agency so one can transfer btc to some address without any questioning and it can give a boost to corrupt people as money is base for all evils.So till now btc don't seems helping in this matter.

pinoyden

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Quote from: usorin on December 02, 2017, 09:08:20 AM

Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

i think your wrong. corruption is infact related to money because money is the root of all evil ( as the saying said ) and corruption is mostly known and recognized due to government or government organization and it has nothing to do with the DNA of the people, education, social issues, etc. overall , bitcoin can still be effective to curb or combat corruption because no one holds and controlls it not even the governments or higher authority.

JC btc

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Quote from: usorin on December 02, 2017, 09:08:20 AM

Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

Bitcoin is an individual thing and has nothing to do with the government that is why you are right that bitcoin cannot ease/help us to prevent corruption. We cannot control people if they want to scam others then it is their conscience for as long as we don't be like them then we can sleep well at night, right?

usorin

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Corruption is not related with money of assets, it is the mean that makes it happen, but corruption it is related to the DNA of the people, education, social issues and so on, so in this case bitcoin or any other cryptocurrency is not so helpful.

Rinder

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Bitcoin can be used to hide the money from politicians, sure if a country would consider the technology, blockchain they could do all transactions more transparent, but countries doesnt wanna to show how much they are spending and at what, they announce numbers and people believe in them. Into the next years we will start to see politicians getting into bitcoin, this way there will be no proof they are stealing, its sad but once they realize how easy it can be, this will become a nightmare, and for sure there are better coins for those purpose.

FrueGreads

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Maybe it could help, and I'm sure it would probably make it easier to track how the funds are being used, but we already do that with finances, and companies usually find ways to hide things, steal money and evade taxes. Again not saying it wouldn't help, but we are usually very creative when it comes to achieve personal gains, even if that means deceiving others. Also let's not forget that corruption has many forms, and can just take the from of an abuse of influence, allowing others benefit from situations they wouldn't otherwise be able to get into.

elegion

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Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

What do I think? I think he was doing great with his article until he used the words "Bringing the power of blockchain technology to government offices"

This person went from volunteerism to a naive form of idealism and became a government supporting slave at the end of the article. I don't see how humanity would need a Government of any type when ALL the private industries today are the ones who are always innovating and creating new technologies. And it's always governments holding them back with fines, and building codes.

When 10,000 years ago there were no governments and people were just fine, as a matter of FACT they were doing so great that it's the very REASON why you can sit in front of your computer and read this today!

when the United States was founded on just a handful of people who decided to fight the entire British Empire and it's armies without the use of a government but used small militias to do so instead.

Whoever wrote that article is so naive and misguided that it's worth laughing at, he or she honestly believes that a decentralized platform, a DECENTRALIZED system of finance will make the government more accountable, less destructive and kill less children? They are sociopaths, this system kills millions of innocent men women and children per year and all over the world?

War's a racket and Human suffering is a business model and business is good.

barbara44

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Quote from: MiningBattalion on November 27, 2017, 04:13:34 AM

Quote from: voztata on November 27, 2017, 03:28:48 AM

Quote from: Aba on November 26, 2017, 11:04:10 AM

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

It is possible way that bitcoin help curb corruption not by how it is made and bitcoin is a solution to cut corruption from the world as this helps to eradicate identify theft and online banking process.

If we use better methods to identify the theft reports in business running in any country of the world, bitcoin can help us to find it with much accuracy and authenticity. But for that we have to legalize bitcoin and it should be legal currency of any country.

It is much secure and safe and transparent currency too. It can identify the misconception of financial loss at any moment with fine results.

Lancusters

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Bitcoin is not a tool to fight corruption. Let those engaged in law enforcement. My opinion is that the fight against corruption should be conducted by other methods. It makes no sense to deal with corrupt officials. We need to create conditions in which would not make sense to pay the officials. You need to deal with unnecessary restrictions.

bajigur894784

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I think so, Bitcoin that uses Blockchain technology seems perfectly suited to solve the corruption problem.
the biggest advantage of blockchain in government settings is that technology's ability to make all kinds of finance things efficient and transparent.

Bitcoinjheta

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Quote from: MiningBattalion on November 27, 2017, 04:13:34 AM

Quote from: voztata on November 27, 2017, 03:28:48 AM

Quote from: Aba on November 26, 2017, 11:04:10 AM

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

It is possible way that bitcoin help curb corruption not by how it is made and bitcoin is a solution to cut corruption from the world as this helps to eradicate identify theft and online banking process.

I thinks its very feasible that bitcoin can give effectively used to curb corrupt officials. Because bitcoin has only generated with blockchain so any transaction has made with the wallet address they monitored and no one else would take to stole or corrupt the money in a one stored blockchain.

MiningBattalion

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Quote from: voztata on November 27, 2017, 03:28:48 AM

Quote from: Aba on November 26, 2017, 11:04:10 AM

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

It is possible way that bitcoin help curb corruption not by how it is made and bitcoin is a solution to cut corruption from the world as this helps to eradicate identify theft and online banking process.

voztata

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Quote from: Aba on November 26, 2017, 11:04:10 AM

As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Man, that’s a big lie I don’t see any possible way that bitcoin can help curb corruption, not by how it is made. Users of Bitcoin are always anonymous, and transactions are carried out everyday and you don’t know who or the location of the people carrying out the location, they are completely anonymous. This is easy for criminals to carry out their plans without anyone knowing who they are and where they are from.

Stac

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Bitcoin is highly transparent as it gives financial freedom to its users world wide and every one can keep track of the bitcoins in the public ledger system through the blockchain technology, all the transactions are recorded in the blockchain network. Bitcoin is a solution to cut corruption from the world as this helps to eradicate identity theft and online banking fraudism another important feature of bitcoin is that bitcoins cannot be duplicated like fiat currencies. Many people are playing with black money or duplicating money this bitcoins has the capability to wipe out this black money issue from the world and make a better anti corrupted World.

alexzorgo

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Not only the bitcoin and its transparent transactions can help with fight against corruption. A fixed asset, I consider, there shall be universal implementation of technology blockchain in the government organizations. In each of such organizations databases are used. In many of them access to such bases is indirectly provided publicly for citizens with the purpose to reduce bureaucratization and to increase online presence of such organizations. At the moment in such databases it is difficult to track all chain of transactions as there is always an opportunity to remove information in someone's purposes. Therefore implementation of technology of blockchain, I think, can help to resolve an issue with the invariance of all change history of these databases.

Aba

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As described in the article, depending on the intention of the policymaker, the government will actually be helped by the existence blockchain technology of bitcoin, but whether they want all their financial transactions to be seen by everyone. It must be remembered that government is formed by politics. And with the existence of politics, such technology may not be applied because of the interests of a group.

Hydrogen

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Barack Obama initially had a website which tracked federal spending. Its one of the reasons behind the claim of his administration being one of the most open and transparent ever.

I think a publicly accessible ledger for government spending is a great idea. What is needed to bring deficits and debt down however is independent, fact driven, media. I've seen anonymous and other groups make efforts in this area only to be shut down. Another area which needs focus is the efficiency (or inefficiency) of government, state run, programs. Space X has achieved more than NASA with 100 times smaller budget. The cost of some state run, public schools, in the united states boast per student costs which rival the value of Harvard tuition. Government run systems are extremely broken and inefficient in many ways which drive up deficit and debt. The end result is reduced standard of living as excessive taxes strangle the economy while not producing cost effective solutions for citizens.

Lanatsa

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Quote from: alfs75 on November 13, 2017, 12:23:20 PM

Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin will reduce corruption if its legallize and implemented because its digital transaction,unlike money that you can give physically direct to the person.bitcoins cannot stolens fastly because its decentralized and not controlled by the banks,unlike money its centralized by the banks and its market value is stable.thats why its help minimize the corruption because its hard to attributed in the crimes and bribery.

When you know totally on bitcoin you wont really able to say such thing. Bitcoin cant be legalized no matter what since its a decentralized stuff which means government cant really control it or even modify it thats why they dont really like bitcoin on most of them for sure. Even local fiat alone it is rampant that can be used on illegal stuff and its common.Even though its centralized and being controlled but not totally can avoid those kind of situations as long there are people who do have criminal minds will surely make use of bitcoin specially its anonymous.

palle11

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Corruption is with humans and can only be reduced by laws. So, bitcoin has no way of curbing corruption. Corruption itself is with all human society and a way forward is for individual government to provide laws that will debar individuals from being in such manner.

selectaselectine

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If the government continues to steal money from the people then it won't work the way you want it to be. These people who are eager to gain money without sweat will continue to steal just for their convenience.

alfs75

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Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin will reduce corruption if its legallize and implemented because its digital transaction,unlike money that you can give physically direct to the person.bitcoins cannot stolens fastly because its decentralized and not controlled by the banks,unlike money its centralized by the banks and its market value is stable.thats why its help minimize the corruption because its hard to attributed in the crimes and bribery.

krauzzer02

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Well it depends upon how the Government will execute the Blockchain technology through their funds and transaction. One of the good traits of this technology is to have transparency over the transaction and funds without any compromise and breach to the value, the Blockchain is an Open public ledger that let's the ordinary people view the transaction executed by them, you can't cheat or fake the transaction as you can't edit or rewrite the past value of it. However bitcoin works anonymously, you can see the transaction but you can't identify who is the owner of the wallet address.

happyme1818

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Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Bitcoin can lessen the corruption activities if implemented because you can track all the way down the transaction but cannot completely terminate it because corruption is a habit or a disease. They will always find a way to steal money from people. One of the reason why some government officials don't like bitcoin to be part of their system.

jamids

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Quote from: iluvpie60 on May 18, 2017, 10:00:30 AM

It can help curb corruption by being transparent. If every public official in govt had to use btc we would see what they are doing and whre the money goes and all that. Would help keep them honest for sure.

Government officials would then be very careful in spending since people can track where the money flows. By being transparent, the public can freely evaluate the transactions of the government thus a manipulation of the funds would be near to impossible. Using fiat money, there is a possibility of hiding some funds because it is possible to have no records but to have funds sent through blockchain, all transactions are recorded so there would be no way to hide some funds. Maybe through this way, corruption can be lessen or if possible totally eliminate it.

aoihs00

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Sounds really good man. But why do government will want this to happen in the first place that us the big question one should ask oneself. I mean no corruption in the government offices? ;-) lols. That might take time to happen and implementing such public ledger could bring the governments private and vital financial information to the public attention which might be truely not needed to show up like that. What they will do in such cases? Because sometimes there are important things which government will need to hide from the public interest and keep it confidential. May be blockchain can be implemented in the public and private hedging but partially for the government sectors.

Turan100

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bitcoin itself is a revolutionary word almost everyone who's good on the internet knows bitcoin we trusted bitcoin before, how many people predicted the vanishing of the bitcoin, but now after all this doubt it is used in stores used in real world a big salute, about corruption this world is not perfect and bitcoin belongs to this world, easy as drinking water.

pearlmen

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Rather than focusing as bitcoin to curb corruption, I would focus on the blockchain technology as a tool to make that a reality. The reason why corruption thrives in every society is because there is element of secrecy in transactions which is something the blockchain will eradicate by making every transaction seen in the public if that is deployed to the electoral system, the records of birth and death, the records of graduates in the country, the records of revenue generated by government, the drafting of budget and its implementation among others, then corruption will be reduced drastically.

btc_angela

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I don't think politicians will approved of this actions. They will be afraid that everyone is very public specially in the blockchain. Plus this corruption thing has been going on for centuries and its gonna be a hard habit to break specially. And besides, corruption takes many form not just monetary form. They can give favors to others and this is also a form of corruption. So I doubt that bitcoin or blockchain can curb it. Till politician themselves change for the better, no amount of technology can alter their need to perform corrupts act specially if the offer is really good. Like huge sum of money in exchange of a favor.

NewBet

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Ehm, Bitcoin is the source of most of the corruption these days... monetarily speaking that is, so I think this question is rather a moot point. I mean I have been scammed for Bitcoin multiple times and it is really sad that we have such people in this community who think scamming will lead them to happiness.

Kaller

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I think it is way too early to tell. See, right now there is no doubt that Bitcoin is way more corrupt than fiat is. However, fiat was also corrupt back in the days when there was less security, such as the "Wild, Wild West" therefore all I can say is as time goes on there will be less corruption in crypto and then we will be able to tell for sure.

Victorycoin

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Quote from: panju1 on May 17, 2017, 10:52:52 AM

Nope. Let us say the government transfers X bitcoins to a contractor.
There is no way to say that the contractor performs work up to the standard. Similarly there is no way to say that kickbacks have not occurred.
The money trail is just one aspect.

In a such a situation, the fund is likely to be held in a publicized hot wallet and all transactions pertaining to that wallet can be monitored and questions asked. As for ensuring that a job gets executed or not and to standard, that is a different matter all together and is independent of whatever mode of payment that get used. Bitcoin's contribution to curb corruption is the public ledger and it is practicable if only the corrupt governments would ever give it a green light.

Fortify

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Corruption breeds and moves freely in the shadows, if there was a public blockchain for government transactions then it could help in highlighting where money is being badly spent. You need a free press as well to bring down public condemnation and a strong court system able to fire people who are doing wrong.

bitbunnny

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Corruption is something that is in human nature and exists from the begining of the world and can't be terminated. And it's not only govornemnt that supports it. Even Bitcoin can't help with that because it also can be subject of corruption and corrupted people can use it.

Gozie51

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In my view, I believe corruption is in human nature and endermic, so corruption is not going anywhere. I mean, the story of the lost bitcoins that has not been returned is still in our memories - that is corruption. Some people breed in corruption and would always look for means to hoodwink others.

mrcash02

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Bitcoin can curb a part of the corruption there is today. That corruption executed by the government and its agents. But if the BlockChain technology is implemented on the governments, the citizens will must pay a price for it. The regulamentations would be stronger and people would have to follow them without complainments like it's now today. So I don't know what would be worse...

Jully Bells

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Blockchain as we already know, is a public ledger that stores all the recent and past transactions related to the bitcoin or any other cryptocurrency based on this technology. All these transactions are stored in a number of blocks that make up the entire blockchain. Every block is crammed with the recent transactions and it is then added to the blockchain as a permanent database. Whenever a block is completed, a new one is generated. The prime aspect of blockchain that helps fighting corruption is its transparency. The blockchain not just stores all the transactions in a ledger but also makes it accessible to all the nodes in the network thereby providing a transparency to the users. This transparency can be helpful in keeping an eye on the government officials and refraining them from making a wrong use of their power. It can be done by cramming all the financial transactions of the government officials in the blockchain where each block represents an individual bank statement. And since the ledger is shared with all the participating nodes, it is almost impossible to forge or destroy. So in this way, it can be effectively used to curb the widespread corruption in various countries. The only problem with the blockchain technology is the size limitation. And it is only due to this size limitation that it’s very difficult to use the similar blockchain based ledgers in bigger countries like India. Because if we do so, then it would require enormous computing power and larger storage space. But if are able to deal with this storage problem, then blockchain can definitely change the face of a country.

eternalgloom

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Quote from: iluvpie60 on May 18, 2017, 10:00:30 AM

It can help curb corruption by being transparent. If every public official in govt had to use btc we would see what they are doing and whre the money goes and all that. Would help keep them honest for sure.

They would still need to check out any suspicious transactions and do a full scale investigation on them. Something like that would definitely cost a lot of money.
And I'm sure that people would still be able to cheat the system.

favila

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It both brings transparency by revealing where funds are located as well as making it easier to hide funds. If you know an address belongs to a specific person you can demand proof of what they spent their funds on and track whether they are telling the truth very easily.

iluvpie60

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It can help curb corruption by being transparent. If every public official in govt had to use btc we would see what they are doing and whre the money goes and all that. Would help keep them honest for sure.

olushakes

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Since transactions can be traced to individual address then same thing can be said in the case bank transfers because government no longer pays in cash but corruption still exists. I feel bitcoin would do more in supporting that bad omen in the society in the sense that when people can still steal money meant for the development of the society in a case where it can be traced to their bank accounts carrying their home addresses how much more when they cannot even be traced in the case of bitcoin. Considering ravaged corrupted countries as still far from developing technologically.

MingLee

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While a system like that has some of the potential to curb corruption, there's a high likelihood that anyone in a position of power can just make another address (and if they really care under a false identity) and they can use that as a way to skip past all the other checks. It never has to go into their own wallet, just somewhere that they can access it.
Shell companies also kind of wreck the dream posted in the OP, as, even though companies can be investigated, enough layers or contracts given to companies that authorities have their hands in would be all that's required to game the system.

DrGuns4Hands

hero member

Activity: 910

Merit: 550

It is impossible for cryptocurrency to be used in curbing corruption because corruption is an element of dishonest conduct. Bitcoin / cryptocurrency is far away from that. Corruption is immortal. At some point, I'm afraid of what is going to happen in the future. Now, bitcoin has a lot of circumstances contribute with the development.

Prohodimec

hero member

Activity: 826

Merit: 501

Quote from: Bagaji on May 17, 2017, 05:07:38 PM

Is not possible for Bitcoin to be used in curbing corruption because when you go by definition of corruption which has the element of dishonest conduct you will come to a conclusion that bitcoin is far away from the instruments of curbing corruption rather another easy way of moving stolen funds from one country to another without restriction.

Get out wrong but it seems to me that Bitcoin has a lot of circumstances contributing to the development of illegal activities and the first of these features is the opportunity to avoid taxation in any country, when the crypto currency is still illegal. But corruption is such an infection that corrodes the state from within and it seems to me that this is not going to help anything.

Bagaji

sr. member

Activity: 1330

Merit: 291

Is not possible for Bitcoin to be used in curbing corruption because when you go by definition of corruption which has the element of dishonest conduct you will come to a conclusion that bitcoin is far away from the instruments of curbing corruption rather another easy way of moving stolen funds from one country to another without restriction.

Sonystra

newbie

Activity: 2

Merit: 0

Corruption is immortal. There are many ways how to enrich themselves at the expense of the state Treasury. I'm afraid that someday under the guise of fighting corruption will cancel the cash and there will only be electronic money. The corrupt will find a way out and we didn't.

KennyR

hero member

Activity: 2310

Merit: 532

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Till governments support corruption whatever methodologies were implemented people will be continuing to do the same mistake in one or other way. Some might say that when things go digital corruption can be stopped. This is simply a delusional statement. When things go digitalized the ease of corruption can be felt all around from common men to higher political personalities.

ozaeri

member

Activity: 84

Merit: 10

Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

The problem is that there are tumblers out there so it won't stop corruption but it can provide accountability, for instance the coins go to some unknown place you can demand an explanation from the person involved and if they can't properly explain it then you know something isn't right.

panju1

legendary

Activity: 1246

Merit: 1000

Nope. Let us say the government transfers X bitcoins to a contractor.
There is no way to say that the contractor performs work up to the standard. Similarly there is no way to say that kickbacks have not occurred.
The money trail is just one aspect.

gregory51gosh

sr. member

Activity: 364

Merit: 250

Analysis is the key.

Here's a good article: http://www.zmescience.com/research/technology/bitcoin-blockchain-corruption-04232/

and very good opposite topic: https://bitcointalk.org/index.php?topic=1865814.260

Xester

hero member

Activity: 994

Merit: 544

Quote from: tosmartak on May 17, 2017, 08:07:44 AM

I came across an article online that is quite interesting and it goes thus;

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

It is very feasible since the blockchain is like a public ledger wherein you can trace transactions coming from an address. It can be done if all government agency as well as every government official must have a registered and official bitcoin address so that when he makes purchases it will appear on the blockchain and the people can monitor how are their taxes are being used.

tosmartak

sr. member

Activity: 630

Merit: 250

I came across an article online that is quite interesting and it goes thus;

Quote

"Bitcoin brings a lot of hope to the table. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.

The real beauty of Bitcoin, however, is its underlying public ledger system known as blockchain. The trustless system automatically executes, confirms and stores transactions on a public database; it leaves no scope for a middlemen or government or any financial authority to take participation in the ongoing transaction, ensuring that the system remain authority-free, hence decentralized.

Bringing the power of blockchain technology to government offices sounds like a far-fetched fantasy, but the open source nature of Bitcoin could make it possible. Imagine deploying public funds entering into such an open system, where money could be allocated to other government subsidiaries, and be used for many public welfare initiatives.

With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. These chains could then be attached to the main ledger as its branches. It will save money in terms of data handling as well.

If every single government office house enrolls into such a system, there would be no corruption. But again, all policymakers need today is intention."

What do you think? Do you think something like this can actually work effectively if implemented? What are your views or other ideas?

Topic: Can Bitcoin be effectively used to curb corruption? (Read 1192 times)