Quote from: orkoso on February 11, 2018, 09:13:02 PM

Quote from: Zaggeta on February 11, 2018, 03:48:03 PM

The transparency inherent in Blockchain has potential to fight corruption. Not only Bitcoin, but all cryptos.

Afris are a crypto being developed in Africa to fight corruption in development funding. It is very promising: http://afri.africa/

For it to really help, that is, for the transparency to work, it would need to be accepted by the governments and that is not going to happen. Believe, Africa is not the only continent with problems with corruption.

Most definitely. But there is a sense of scale of the corruption in Africa. To demonstrate, here's a story:

In South Korea, America and Nigeria, the government plans to build a highway. They each budget it for the equivalent of $50mn.

In South Africa, the contractors take a few hundred thousand dollars and then build a decent highway. In America, the contractors take a few million and build a below-decent highway. In Nigeria, the contractors take $100mn and the highway is forgotten about.

Corruption is just the cost of doing business around the world. In Africa, it is business. That is because financial institutions and formal government structures are owned by the patrimonial warlords that thrive off corruption.

But there are reformists who want to change. They are just lacking formal institutions and the willpower to build them. Crypto is a financial institution that is lightweight and can be adopted by reformers and civil society. I think that with a decent crypto that can bring informal traders into the taxpool, governments will be very keen to adopt it.

Zaggeta

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