Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
perhaps it can. by transparant system it can be reduce corruptions. I hope it
Yes, bitcoin can reduce corruption if our government will adopt cryto through via blockchain. For example: Releasing government funds via blockchain- We all know that the money issued by the government are often unutilized. It hardly reaches its destination. Thus, if there is a provision for releasing the funds via blockchain and the blockchain transactions are available to the public, we can easily trace what happens to this amount. We can also get to know how it is being used. Coming up with a policy where the wallet address of the politicians is made public, it will become very easy to trace the route of the fund.