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?
Yes your right! Some government are afraid of the cryptocurrency. It is some way of reducing corruption. Blockchain and cryptocurrencies similar to Bitcoin could transform the way we make payments and do business. They also hold great promise as a method of fighting corruption.The adoption of cryptocurrencya digital currency that employs cryptography to ensure that transactions are secureas a mode of payment for a project allows the identification of each user of the money, unlike with traditional modes of payment like notes and coins. Though most popular cryptocurrencies, like bitcoin, are anonymous and only use a key to identify a user, it is possible to include personal information, like the ID number, and make the cryptocurrency non-anonymous. The use of cryptocurrency also allows for instantaneous transactions and borderless transfer-of-ownership (money with wings), which reduces transaction time and cost, since financial intermediaries are not needed.
A government or development institution could use an existing non-anonymous cryptocurrency or develop its own and give it a name, such as cleancoin for example. The value of the cryptocurrency can be determined by the market or preferably be pegged to a physical currency to reduce volatility (bitcoin for instance has shown very high volatility since its inception).