Crypto-Currency to contain Corruption

 Crypto-Currency to contain Corruption

Starting off with a wide disclaimer that all of this is based on my knowledge and what I feel, what I think others also feel the same as I do, so it is a non-biased form of constructive criticism to the global trends and is not to hurt any specific area of people around the globe.

 As we all know if not the biggest problem a modern world is facing Is corruption, the world has yet to contain this virus but because there is profit for the elite and gain for the so-called patriotic governments, they don't care of the large poor masses (public) who has to face these problems because of some.

This can also be seen publicly as the World Bank statistics show how the world as in large is facing this serious crisis of a situation, statistics show the world as in full picture has 2.8 grade out of 6 in case of corruption happening including the rich and poor countries.

This also shows how both sides of the world faces serious problems related with it. It is even happening as I write and as you read this article. No nation wants its hard-earned tax given to the government as ensuring the development in their society to be used for some who don’t even care about them.

A lot of this money thus is wasted leaving the poor countries in risk the most. The world bank has made some precautionary measures related to it but as we can see there is but little effect on it.

SOLUTION

What plan I had in my mind was a greater, more reliable plan with more transparency and that as you might have guessed is the cryptocurrency technology. The technology in every field is becoming inevitable to use as the future what we see is technology and for this case specifically it could be quite fruitful.

BUT HOW?

Basically, what block chain technology is, is that a continuous chain of processes which is end to end encrypted with only 2 subjects in the process and no one in between, it will reduce corruption as there are no in between people who can get their gain out of it without getting noticed by it and why would a buyer or seller want to do a fraud when all they want is clear transaction. This simple trick can help make governments/co-operations tasks much quicker, easier and more transparent when doing any sort of transaction for any purpose.

Other usages of technology could be in case of a fraud be report administrative abuses, facilitate the lodging of complaints.

How could this be more transparent?

It is easy as the block chain technology is based on transparency and while transactions people could see where their money is going to and the whole picture with no vacuum of space for cheats. Point of it is that bitcoin technology should not be taken lightly and there must be research to make it even better rather than taunting and giving false excuses of how it will just pop like a bubble. What I think is that it has come to stay and stay for a long time.

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