In order to eradicate corruption, we have to eliminate dark money.
We need a traceable currency that accrues karmic value by how it is spent. If you knew where a dollar had been/what it had been used for, imagine how the value of each dollar might reflect societal benefit. Dollars with a good reputation are worth more than dollars with a bad reputation.
No more dark money.
Think about the possibilities. It's coming. Crypto is halfway there.
Traceable currency utilizes the omnipotent power of the market to reward socially beneficial spending and punish selfish spending.
You do. If you like where a dollar had been spent, you accept it. If you don't, you deny it.
Dollar markets would verify trusted agencies, and you can subscribe to whichever markets you like.
I don't decide it for you, and you don't decide for me. We each decide whether we want to accept each dollar, knowing where it had been spent. Over time, we each help determine the value of each dollar by choosing to accept it personally or not.
Over time we would all mostly agree on what was good. "Vote with your dollars" to the max.
Sorry, trying to write too fast plus autocorrect.
That wouldn't be affected by traceable currency, except you could trace where your money was spent by government. More accountability, less corruption.
Imagine if every person could trace exactly where government spent each of their dollars.
How long would government get to spend money on the wrong things before people would sue for their money back?
You're misunderstanding. If crypto is decentralizing power, the next step will be even worse for banks.
First the internet decentralized knowledge. Then email decentralized communication. Then social media decentralized opinions and ideas. Then Uber and Airbnb decentralized control of property (ownership). Next, the internet of money will decentralized wealth. It's good thing.
All of these tools need to be utilized together to decentralized power. But that's up to us.
You all make good points. Yes, the idea is to get corruption out of gov. The reason it's so easy to be corrupt now is because we don't trace our money.
Think of it as YOUR money, being spent in ways you didn't approve. That's exactly what happening right now, as we speak. Billions of our dollars are being spent on wars and to pay off bad actors, or to pay for overpriced equipment, etc. Imagine if you could trace it. It decentralizes the power. If you want your dollars spent a certain way, you can track whether or not that happens.
Crypto is halfway there.