What do you think about this? Do you think it can lead to a greater economy and transparency? I mean for government of a nation to make their national budget transparent by putting it on the blockchain?
That is what Philippines Senator, Bam Aquino is planning to do, to file legislation that will make this possible in Philippines.
https://coinmarketcap.com/academy/article/philippines-senator-proposes-blockchain-budget-systemDo you think it can reduce corruption and also enhance economic development?
The blockchain is immutable. Every piece of data stored on the blockchain cannot be edited or deleted, so yes, having the national budget on the blockchain will show transparency. However, I don't know if it's going to foster economic growth or curb corruption because the funds are going to be in fiat, and corrupt government individuals can always find a way to divert public funds. If
itthe funds will
to be in crypto, it address the issue of corruption since everyone will be able to see it, track it and know how it is spent.