Quote from: Ailmand on August 10, 2018, 06:45:16 PM

Quote from: Psynthax on June 09, 2018, 10:50:47 PM

Quote from: mrcash02 on June 09, 2018, 10:33:17 PM

Quote from: waqasniaz007 on June 09, 2018, 08:16:54 PM

The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.

Yes, it's very transparent and reliable. Several countries have their "transparency portals", where people access the records of their public administrations online. It's good and useful, but a system like Blockchain would bring much more reliability and transparency to the citizens.

I also like the idea because an adoption like that would cut worthless expenses on the public administrations. Less employees would be needed, so more money could be used for what really matters and isn't having enough budget at this time because there isn't enough money to sustain a heavy payroll and to attend the basic sectors of society at same time.

If the government apply blockchain for infrastructure development, I'm pretty sure that it will get rid of the corruption since it's transparent, as people have known for a long time that infrastructure development which takes up majority of the country's budget often being used as a tool for corruption but blockchain with its transparent open ledger will simply stop it, public will know where the funds are moving, so that there's basically no chance for people to go corupt, I must say that such thing will help improve country a lot!

I agree. However, before jumping off the gun and thinking of how a government could use and take advantage of its benefits to whatever facet of a country. I think that they should first make it work and accept thr market and its assets as legitimate and profitable one and adjust to give it a more conducive business environment to grow and prosper. Only then will the cryptocurrency market would get its much needed boost to be more stable while steadily gaining value. In turn, it could help an economy of a country grow from its gains.

The economy has it's own circulation of funds, and if blockchain will be there to initiate I guess that's a good signs of progress over fiat system and digital currency. Decentralized over centralized matters will become more compatible due to massive implementations, and people would gladly prefer to have blockchain transactions rather than traditional method which has delayed system.