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.
Topic: Politicians fear cryptocurrency because it will stop corruption. (Read 2424 times)
October 14, 2018, 04:02:06 PM
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.
October 14, 2018, 04:00:10 PM
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.
October 14, 2018, 03:36:58 PM
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
October 13, 2018, 11:53:26 PM
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.
October 13, 2018, 07:31:59 PM
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. 
October 13, 2018, 04:20:51 PM
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
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
October 13, 2018, 04:01:11 PM
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. October 13, 2018, 04:25:26 AM
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.
October 13, 2018, 04:19:55 AM
cryptocurrency will definitely bring transparency to the public in terms of spending of govt funds and even records maintaining ledger through blockchain technology
October 13, 2018, 03:34:32 AM
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.
October 13, 2018, 02:10:43 AM
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.
October 13, 2018, 02:04:31 AM
Some politicians accepting cryptocurrency for their campaign funds. Not all politician afraid on cryptocurrency because if they are good politician they should not afraid with transparancy on their account.
October 12, 2018, 08:54:17 PM
It depends on how it is used. The politician doesn't like the concept of money that he cannot direct. Actually the transparency of the blockchain system and an environment in which data cannot be changed can ensure that public transactions are recorded accurately.
Well it really depends how the politicians will use it, actually politicians can use it to make more corruptions because its untraceable and it is very easy to trace and track the bitcoin address owners.
October 12, 2018, 08:22:34 PM
It depends on how it is used. The politician doesn't like the concept of money that he cannot direct. Actually the transparency of the blockchain system and an environment in which data cannot be changed can ensure that public transactions are recorded accurately.
One of the areas that the current system is lacking is transparency that's why many people can manipulate data because they know that people wouldn't know it and even if some would know about what they are doing behind the scenes, they cannot provide an evidence because they can get rid of it or just talk to some people who are engage with the data and pay them perhaps. They cannot do it when it comes to blockchain because they cannot talk to the technology and ask some favors from them so somehow it would stop the corruption.
October 12, 2018, 08:01:54 PM
It depends on how it is used. The politician doesn't like the concept of money that he cannot direct. Actually the transparency of the blockchain system and an environment in which data cannot be changed can ensure that public transactions are recorded accurately.
October 12, 2018, 06:55:18 PM
on the one hand many people think that bitcoin is very vulnerable to use for money laundering, but on the other hand bitcoin or crypto currencies are considered effective enough to prevent corruption, corruptors tend to be afraid to do it if the financial system uses blockchain such as crypto currency because every transaction what happens cannot be manipulated and can be monitored by all
October 12, 2018, 05:28:38 PM
A transparent blockchain system will indeed prevent corruption that has happened so far, but if the government opposes that there will be many who are suspicious, therefore I have not seen many of the governments opposing cryptocurrency. So they will cover it and only be neutral on this.
October 12, 2018, 04:55:11 PM
Corrupt politicians can always thinks how they can manipulate cryptocurrency and get huge money out of it. So they want to regulate cryptocurrency in favor of them.
October 12, 2018, 04:30:03 PM
This is a false statement. Politicians are not afraid of cryptocurrency due to the fact that it can defeat corruption. Cryptocurrency in general is not capable of this. In addition, the politicians themselves can use cryptocurrency anonymity to take bribes in cryptocurrency. This is very convenient and it will be very difficult for law enforcement agencies to prove the commission of this crime.
Politicians fear the decentralization of cryptocurrencies, they cannot control it, and therefore lose their power over the people.
Politicians fear the decentralization of cryptocurrencies, they cannot control it, and therefore lose their power over the people.
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