There is no denying that there is corruption in governments, the people we elect or appoint to positions to serve the public are enriching themselves through unscrupulous means. While corruption exists in virtually all governments across the planet, in developing countries especially in Africa, it is at a very high level.
Many a times, these acts of corruption leaves the public with lack of critical medical supplies to hospitals, dilapidated public amenities, poor business environment, and eventually a brain drain as the educated travel overseas in search of employment.
One cryptocurrency expert, Simon Dingle, is of the belief that blockchain technology could tame corruption in governments. Dingle believes cryptocurrency can give back the people their power by taking it away from centralized governments who have for long operated like they are the ultimate authority. Yet individuals holding positions of power in governments have continuously been abusing their powers and riding on the wheels of corruption into riches.
Based on the decentralized nature of Cryptocurrencies, the blockchain technology has what it takes to upset the government-backed currency system. Crypto like Bitcoin allow participants trade money freely without the government …read more