Quote from: AakZaki on Today at 01:55:54 PM

Quote from: hatshepsut93 on September 09, 2020, 01:52:16 PM

Theoretically, if Bitcoin was used, it could have been more transparent if they were required to report all the addresses and amounts used, but it would come with a risk of hacking or false hacking. Governments are pretty bad with cyber security, their servers get hacked quite often, now imagine if they used Bitcoin and their not only data, but their funds were also stolen. Another problem is that corrupt government officials could steal the coins and then claim it was a hack. In either scenario, there's zero chance of retrieving coins.

This is what I thought. When some corrupt people manipulate and create rumors that there is hacking, it will benefit them, they will make the scenario as neat as possible so as not to be caught.
For the use of Bitcoin it will be more transparent because every transaction will be recorded on the blockchain so that the funds will be found where it ends. But it must be monitored together to avoid hacks that can occur.
I really hate it when some people manipulate money that is supposed to help the people to be more prosperous, it is a crime that cannot be forgiven.

Agreed, with the use of cryptocurrencies there'll be more and more transparency. Each and every transaction getting recorded on the blockchain gives clear visibility on the end reach of the funds. In my opinion governments will easily bypass the blockchain and get into corruption, which is the prevailing situation around the world. In specific the sufferers are the poor ones.