Why Government Must Embrace Blockchain and Create State Own Cryptocurrency!

Although must central bank governor and finance minister across the world seem not to support Bitcoin and Cryptocurrency revolution - but the technology holds the secret to a better run and coordinated economy.

Every serious government must take a second look at blockchain technology and it appeared in a digital world accelerated by the concept of decentralization it is a MUST to create "state own" blockchain powered currency, this actually comes with lot of advantages for the efficient running of the state.

Its no secret that most nation runs on revenue generated largely from tax, a state own cryptocurrency means that the tax calculation and deduction can be automated (especially consumption tax and VAT) - thus, simplifying the process and eliminating corruption and evasion.

Government and business owner need accurate data and statistics to plan - blockchain powered state own currency will give us an opportunity for the first to collect a more accurate information as regard consumption pattern, market trend and even wealth distribution.

Corrupt enrichment would also become a thing of the past - how do you embezzle money in an open transparent system - the awareness that your wealth or better still all money movement is OPEN it is sufficient to discourage theft, corruption and embezzlement.

This would also encourage productivity - after government can use a concept Proof of Productivity/Work to program the crypto.

In fact, rather than thinking of banning or discouraging user, the way to go is to embrace the new front of technology - Let create a better, smarter and efficient government and economy.

What do think, let help people in government see the reason to move to blockchain now - add your voice!!