Blackchain to stop corruption


The reading was very affirmative in stating how Britain's ex prime minister David Cameron hopes to have a more public blockchain based finance system for global politics that might curb corruption issues by keeping authorities and governments in check. This definitely seems like a logical step forward in tackling various government related financial blunders, but it also raises some questions that may need to be thought about if the scheme needs to be put into action.

Q1: If corruption is the undisclosed backbone of political systems in some developing countries, then why would authorities would want to conduct negotiations on a blockchain based system?

 Q2: would authorities in developing countries make an under the table deal with developed countries to accept only a few major blockchain transactions so that rest of the dirty business is kept hidden, so as to fake data and show off their good deeds. 


Nitish WakalkarComment