1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
1.Government of a country never wants its banking sector to be abolished. Even Banks have implemented the Digitalization Tren on their systems.
Several banks have been doing digital banking services for their customers since 2018.
Even some central banks in the world will make their own electronic money, this is likely to happen early before it goes altogether the bank.
2.Of course, there is a way for the government to implement taxes. To support banks towards digital banking, usually, some interested parties will coordinate with the
Director-General of Population and Civil Records of the Ministry of Home Affairs.
3.The reason is, the technology is transparent. With the advantages of transparency, every transaction can be accessed publicly, this makes Blockchain potential in the
prevention of corruption.