Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin make Banks disappear?
by
kempess
on 08/01/2018, 04:18:25 UTC
if a government using blockchain to record all kinds of the form of the agreement or transactions, would be impossible for someone to do the action of corruption,No single computer is capable of altering transactions already recorded in Blockchain, so "smart contracts" using this technology can pinpoint and pinpoint where their money flows-which will be a much better form of accountability than they are today . A company will not be able to falsify its account. All remittance transactions from government agencies will be recorded.

This system can also have an impact on the current central bank system, said a minister from the British government. Speaking to Wired Magazine, Minister Matthew Hancock said that "in a country where a currency needs a central bank to regulate its circulation in order to manage the country's economy, the central bank is definitely needed ... But most importantly, when people can already pay each other in currency which are not connected and fixated on the geographical location of a particular country, then the need for central banks will also be reduced.So we can come to the conclusion with the word "could have happened"