Creative Way to Fight Corruption using Bitcoin, Crypto or Blockchain

[troubled soul]

So many people think Crypto only use for black market and Money laundering.
But In other side We can use Crypto and Block chain technology for Fight Corruption.

As example, Any government/organization decides to construct a building, it can now track how each money is being used, identify all the beneficiary of the funds, and make sure that only true beneficiary spend money do so on true expenses within the permitted time. Fraud and corruption investigations can be performed just by looking at block chain only and with little cost.

It reduce the chances of the bribe in the public/private sector organization.

It reduces the money transferring time and cost, since bank/intermediaries are not needed.

Every transaction saved in a block is recorded, it cannot be changed as it would require altering all the subsequent blocks. . it is searchable and can be used to track all Money transaction.

If you know every user on the block chain network and traceability makes corruption more difficult, unlike with traditional money. Corruption using tradition money is kind of untraceable , So many corrupt officer does not go to jail due to Lack of traceability.

What are your thoughts on these ?

Thanks

 

[369]

I prefer corruption over full transpirancy in a facist world.
Corruption opens possibilities to protect against facists.
Being 100% transparent it means they have full control over you.
The social credit score in china is a good example.You watch wrong websites or facebook groups you are not allowed to use public transpartion with increasing restrictions based on your behavior they might not like.
The Covid pass is a social credit score system like in china it is just implemented under another false reason to get acceptance in public.

Also what you describe is the decentralized monetary system which can't be cheated and which is the goal of the finance elite.In 10 years there will be no more governments but just cooperate money and from some central banks.