Can the use of blockchain help curb corruption?

[Joseph555]

It has the potential to curb corruption, but the politicians won't adopt it, that is the problem.. you can see the recent ban on crypto currencies by the Nigerian government is another example. They are the ones at the helm of affairs and it would be difficult convincingly them to accept these development.

with my little experience on blockchain I think I should be able to curb corruption

I believe it can I believe it can that is why I've got means trying too hard they stop this blockchain and cryptocurrency but they are fair because the trailer of cryptocurrency will not allow them this time to spank rock it for us we will stand to appeal and do what it's supposed to do it all at all time and we don't care

 

[George10640]

Corruption will not end but i think blockchain will play a big role curbing this.It is only if a law is introduced and enforced in most countries then blockchain will help.It is upto the unity of countries to embrace then we will have a significant drop in corruption but not an instant process.

 

[Trojan8]

I don't feel block chain will do much in curbing corruption. This is because it is built on a decentralized network that protects users. Most transactions in the block chain can noe be traced so there's no way it would actually help prevent corruption. On the contrary, it might actually make corruption practices easier to carry out.

 

[Usman Sattar]

When it comes to technology, then it has never ceased to leave us overwhelmed by its benefits; whether it was the internet revolution which has changed the world to the blockchain technology which is unfolding new avenues of transformation every day. Although, blockchain is currently majorly assisted with cryptocurrencies and financial transactions, its benefits in other niches are garnering attention from across the globe. There are many areas where this.

 

[Akinwale701]

Since blockchain transactions are irreversible and can't be edited or altered by anyone, I think financial institutions and governments can employ it as a tool to curb corruption in the financial system.
What are your thoughts on this?

I am not sure what the use of BlockChain can help a country to do or not, I know personally that bitcoin transactions are not perpetrated due to the advancement and difficulty in penetrating through the BlockChain technologies. But if experts find it useful, they can implement it.

 

[Planet408]

I honestly do not see this possible. Blockchain transactions not being reversible can't just put a stop to corruption. How many illegal transactions do you know that demands reversal? Most transactions don't need reversal. Therefore it can't work.

 

[Mawome]

The answer is no reason be that blochain is not an anty curuption agency, The last time I checked I didn't see such thing in there website, but I don't really know if they are actually curbing curuption now, I have no idea for now, maybe someone in the group should let us know.

 

[lelakil3]

Since blockchain transactions are irreversible and can't be edited or altered by anyone, I think financial institutions and governments can employ it as a tool to curb corruption in the financial system.
What are your thoughts on this?

Maybe change in a few moments but there's always a corruption at least there's no other regulating these and implementing also the cycle will completely like in a loop that is stack on it, it may be approved if there's should be an immediate action for these.

 

[Ghazi1402]

The basic advantages of Blockchain technology are decentralization, immutability, security, and transparency. The blockchain technology allows for verification without having to be dependent on third-parties. The data structure in a blockchain is append-only.

 

[Kelly5]

The use of blockchain to curb corruption can only be possible when the government in power starts to regulate cryptocurrency. The essence of the blockchain technology is to ensure complete discentralization of the finacial system.

 

[Nicklas22]

I don't think so, my country has recently banned Cryptocurrency and I don't think Blockchain can curb corruption
Many scammers are even using blockchain to scam other people
Nothing can stop corruption except the people decided to change

 

[Shivay]

Well , i don't think that the transactions can be edited or changed address once the transaction is added into the block but still blockchain is really safe as its all transactions are really secured .

Since blockchain transactions are irreversible and can't be edited or altered by anyone, I think financial institutions and governments can employ it as a tool to curb corruption in the financial system.
What are your thoughts on this?

 

[Yasmin]

This is especially true of expectations that blockchain will strengthen integrity and root out corruption in government. How policymakers use blockchain to build more trust and transparency in government is a critical issue that is on top of the political agenda in many countries, especially in Latin America.

 

[Dowenship]

Since blockchain transactions are irreversible and can't be edited or altered by anyone, I think financial institutions and governments can employ it as a tool to curb corruption in the financial system.
What are your thoughts on this?

Haaa it doesn't curb corruption oooo.... These people know they do there things, they have dubious ways to dub people despite the corruption.
Quote of the day:
Never give up, because the breakthrough is near. Keep pushing till you win

 

[Nomad]

I think the irreversible nature of blockchain is one of the major vulnerabilities of crypto currency. Since the transactions re irreversible. people are experiencing lot of issues.

 

[Setho]

One very effective way that I think I need to can help is the diversion of public funds. Since every movement can be monitored across the block chain it will be very difficult for somebody two corner funds meant for the public

 

[Thinker009]

It could help curb corruption because blockchain could be used for tracking transaction and others ,so it have its advantage as it could help curb if utilized properly

 

[Yusuf]

I really don't think the use of blockchain can help to fight corruption all over the world. A lot of people even keep their scam proceed into crypto currency exchange Business so that the government won't be able to trace it

 

[Dowenship]

Since blockchain transactions are irreversible and can't be edited or altered by anyone, I think financial institutions and governments can employ it as a tool to curb corruption in the financial system.
What are your thoughts on this?

Well its a good idea but the problem with blockchain is that one, If you lost your seed phrase that account is gone forever and the transaction fees is high.

 

[Nurudeen]

The use of blockchain can never be used to curb corruption. As far as I know, a lot of companies are even challenging the blockchain system of aiding diversion of public funds and promoting corruption