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> government bribes Governments mired in corruption, embezzlement of public funds, dumping toxic waste and ignoring infrastructure and human development are no
by Vetch 5y ago
> government bribes
Governments mired in corruption, embezzlement of public funds, dumping toxic waste and ignoring infrastructure and human development are not banning crypto out of the goodness of their heart. They're banning it because it erodes and threatens control of their mismanaged currencies.
If we required governments and large corporations to use identifiable addresses then the traceability and immutability of public blockchains makes bribes and corruption much harder to hide. Government spending, which is not used to being held accountable would of course not take kindly to this.
- wpietri 5y agoThis seems very whataboutist. Is your serious claim that Bitcoin, et al, aren't increasing bribery? They're helping out other sorts of financial crime quite handily, so this is a claim that would require a lot of evidence. And as to your second paragraph, [citation needed]. As long as we're imagining central authorities mandating the sort of transparency that would make it harder for corruption, we could just use the existing financial system, which is already reasonably well tied to real-world identity. Cryptocurrency in no way helps here.