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Blockchain has the potential of making public spending totally transparent.

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by COINS NEWS 175 Views

Blockchain technology is superb and should be applied everywhere we can.

A good centralized blockchain would be a state based blockchain tracking every penny of public money. Public spending recently has been very fishy when people see 100 Billions being stolen from Covid Relief they wonder if it is a bug or a feature.

Of course, some spending has to be done in shadows for secret projects and all, but we could have a privacy layer for such spending. So that the public would know how much money goes into this kind of spending but would not know the detailed itemization.

Most of the rest could be totally transparent as long as it is not traceable to private persons by someone outside of the state.

I wish this was more discussed by the different government of the world but ... Who Watches the Watchmen...

submitted by /u/Nostalg33k
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