Quote from: Harlot on October 15, 2019, 08:02:01 PM

Aside from that if the government decides to implement blockchain into their system there would be a more transparent government running that country. The more transparent the system is the less likely that country will have corruption taking place. This is one of the most important points of having a digital public ledger where all activities and transactions are being monitored by everyone, you can't really have any room of illicit activities especially if everyone has access to it.

That's certainly true, mate. Blockchain's transparency would be an effective countermeasure against corruption and fraud. However, governments could decide to implement privacy features into their own digital currencies as well. If they take this path, then everything will be the same as it is now, where people cannot know with full depth the transactions conducted by the government that would involve corruption or fraud. Also, it's important to note that governments could determine their own network fees if they wish. Blockchain tech may promise greater efficiency, lower costs, and even transparency, but it's subject to the rules imposed by its developers. In other words, governments could manipulate their own Blockchain system as they desire, adding or eliminating certain features of the same.

Whenever Blockchain technology will trigger a massive boost in our economy or not, it's yet to be seen. Everything will depend on how many investors are interested in the new digital economy, to see a substantial boost over time. Ordinary people would also need to adopt digital payments for the full transformation to take place anytime soon. Being 10 years since Blockchain technology was created, there's still a lot to learn and improve in order to make the ecosystem bigger and stronger than ever.

Nonetheless, it's safe to say that Blockchain technology is here to stay. It seems that it'll be widely adopted by central banks and governments within the future. By investing into cryptocurrency, you're investing in your future as this is the trend of tomorrow. We as crypto enthusiasts are early adopters of Blockchain technology since it hasn't been widely implemented in the mainstream world yet. Once Blockchain takes over the world, we'll be the first ones to greatly benefit from its success. Just my opinion