#SmartCash. A Fight against Corruption !!! Privacy & Decentralization focused Cryptocurrency.

It has been an awesome year for the crypto-currency world and I hope you all are doing great in your life and are investing your time to learn anything and everything about this technology inside out, because this is just the beginning for us all.

Yesterday, I informed you all about the Basic concepts of an Economy and Importance of User(s). To know more about it please check this blog, here : https://steemit.com/smartcash/@cryptodate/smartcash-is-not-a-revolution-it-s-a-financial-freedom-evolution

What is SmartCash ? How it's (SmartHive) Community functions ? And it's features are well explained in this blog : https://steemit.com/smartcash/@cryptodate/smart-cash-for-the-community-by-the-community-set-to-change-the-rules-of-finance-economics-and-governance (have a quick look at it...)

Who is behind SmartCash ? What is their vision ? What is the importance of privacy ? Are few questions that have been explained well in this blog :
https://steemit.com/smartcash/@cryptodate/smartcash-a-privacy-centric-decentralized-economy (don't forget to check it out, if you haven't already)

And today you will read about Corruption ? How SmartCash can possibly fight it ? And how anyone can be a part of it ? Also, I will sum up my conclusion about Economic Growth (which i mentioned in my last blog titled:" SmartCash. Is not a Revoltuion, It's a Financial Freedom Evolution) by giving you some more information on How Merchant(s) Acquisition works ?

Corruption

Generally speaking as “the abuse of entrusted power for private gain”. Corruption can be classified as grand, petty and political, depending on the amounts of money lost and the sector where it occurs.

Grand Corruption consists of acts committed at a high level of government that distort policies or the central functioning of the state, enabling leaders to benefit at the expense of the public good. Petty corruption refers to everyday abuse of entrusted power by low- and mid-level public officials in their interactions with ordinary citizens, who often are trying to access basic goods or services in places like hospitals, schools, police departments and other agencies.

What are the Costs of Corruption?

Corruption impacts societies in a multitude of ways. In the worst cases, it costs lives. Short of this, it costs people their freedom, health or money. The cost of corruption can be divided into four main categories: political, economic, social and environmental.

• On the political front, corruption is a major obstacle to democracy and the rule of law. In a democratic system, offices and institutions lose their legitimacy when they’re misused for private advantage. This is harmful in established democracies, but even more so in newly emerging ones. It is extremely challenging to develop accountable political leadership in a corrupt climate.

• Economically, corruption depletes national wealth. Corrupt politicians invest scarce public resources in projects that will line their pockets rather than benefit communities, and prioritise high-profile projects such as dams, power plants, pipelines and refineries over less spectacular but more urgent infrastructure projects such as schools, hospitals and roads. Corruption also hinders the development of fair market structures and distorts competition, which in turn deters investment.

• Corruption corrodes the social fabric of society. It undermines people's trust in the political system, in its institutions and its leadership. A distrustful or apathetic public can then become yet another hurdle to challenging corruption.

• Environmental degradation is another consequence of corrupt systems. The lack of, or non-enforcement of, environmental regulations and legislation means that precious natural resources are carelessly exploited, and entire ecological systems are ravaged. From mining, to logging, to carbon offsets, companies across the globe continue to pay bribes in return for unrestricted destruction.

Reason for Corruption.

Lack of moral criteria in promotions. Corruption is prevalent when there are no criteria for proven integrity and responsibility in the promotion. Such criteria are ignored when someone is promoted simply because of their loyalty to whoever is in charge or those in control of the party.

What is Transparency ? And, how can it control Corruption ?

Transparency is about shedding light on rules, plans, processes and actions. It is knowing why, how, what, and how much. Transparency ensures that public officials, civil servants, managers, board members and business-people act visibly and understandably, and report on their activities. And it means that the general public can hold them to account. It is the surest way of guarding against corruption, and helps increase trust in the people and institutions on which our futures depend.

SmartCash

SmartCash is continuously thriving to become a successful community driven economic platform that will give it's User(s) Power of Privacy and Decentralization through Zerocoin protocol and SmartHive Governance Platform respectively.

It is a new Cryptocurrency project born out of the desire to create a viable, fungible, instant, merchant oriented, user friendly and community driven cryptocurrency with a decentralized governance system. Aimed to create the most nimble and fast growing cryptocurrency by aggressively prioritizing block rewards towards growing community, hiring developers, gaining merchant acceptance and via grassroots community outreach efforts and established marketing methods.

How can SmartCash be Transparent ? Do they already have a Transparent Governance structure in place ?

In my previous writings, I have been sharing information about countless features that SmartCash has to offer. One of the most interesting feature of SmartCash is it's transparent SmartHive Governance concept.

In order to create and maintain a transparent and decentralized governance structure, SmartCash has introduced two concepts SmartHive and Hive Structuring Teams (HST). SmartHive enables anyone that holds coins to vote on proposals submitted by the community.

SmartCash shares Monthly Report about ongoing Current Development & Statement of Transfer, to maintain absolute transparency.

SmartHive is a decentralized organizational model inspired by ant and bee colonies. SmartHive will be the lifeblood of the project, which will allow anyone to get involved and submit proposals, helping to generate organic growth at a grassroots level, creating a bottom-up management structure.

The Hive Structuring Teams (HST) will lay the groundwork for the project and set the framework for the project’s evolution. Initially, the Hive Structuring Teams will operate three separate departments in charge of vital project areas, such as development, outreach and support. Each of these three departments will end up employing people. As teams grow larger, bigger than eight members, more teams will be created, each with its own budget and team coordinator, operating autonomously without a central command and control structure in place. The Hive Structuring Teams will consist of people directly involved in the project on a day to day basis, while the overall SmartHive will aim to enroll and engage community members and other 3rd parties interested in growing SmartCash into a global world wide currency.

All SmartCash users deserve a voice, from day #1. That is why Smartcash is pioneering in the crypto-governance space and was built around Smarthive, the platform that lets all users vote on the direction of the project, a place where all SmartCash holders can vote on projects to be funded from the community hive budget.

How to participate in SmartHive Governance ?

Anyone who holds SmartCash can participate in SmartHive Governance through SmartVoting.

To know more about,

• How to Vote on a SmartCash Proposal ? Please refer to this quick visual guide, here : https://steemit.com/smartcash/@hannahlicious/how-to-vote-on-a-smartcash-proposal

• How to Submit a SmartCash Proposal? Please refer to this quick visual guide, here:
  https://steemit.com/smartcash/@hannahlicious/how-to-submit-a-smartcash-proposal

A successful implementation of SmartHive Governance concept provided by SmartCash can help achieve total transparency, decentralization of power and thus eliminating Corruption from the economy.

How can this co-relate with Economic Growth of SmartCash?

In my previous blog I did write that Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation and I also described how SmartCash has a self-sustaining environment of it's own which has proven itself to be efficient enough to produce SmartCash through a process called Mining, and how SmartCash's Outreach is running active campaigns to gain new users. Distribution is happening actively through their twitter campaigns and a positive growth on trading is quite visible on charts and Consumption shall follow with the implementation of a healthy and successful User(s) and Merchant(s) friendly system in place.

A Transparent Corruption-less Governance System means the User(s) as well as Merchant(s) and the Hive Structuring Team can work in complete sync with each other in an efficient manner without any influence of a centralized power.

Still have doubts about Merchant(s) though ?

Traditionally (i.e inclusion of Corporate Giants, Governments and Banks), Merchant acquirers enable merchants to process credit and debit card payments and help in increasing sales by accepting the most popular cards to attract customers to their businesses. Typically, a card payment transaction involves two sides: the first between the cardholder and the bank that issued their card; and the second between the merchant and the acquiring bank. This paper focuses on the second: the merchant acquiring side of the industry. Cardholders only deal with merchants and the issuing bank while performing card transactions; they are not concerned with the merchant acquiring side of the industry. However, this second acquiring side of the industry contains a network of highly advanced intermediaries who handle card transactions via authorization, clearing and settlement, and dispute management.

*Traditional Card Payment Transaction Flow

SmartCash can potentially provide a safe, private environment for the Merchant(s)to carry out their trades without the need of involving any 3rd party highly advanced intermediaries. And thus allowing full financial freedom to Merchant(s) which can then choose to participate in the Community and help strengthening the economic growth by catalyzing trading to support increased demand of goods and services by User(s).

"We believe fungibility should be an essential property of any currency which is why we're using zero knowledge proofs, the Zerocoin https://github.com/Zerocoin original implementation to maintain fungibility, while still having an audit able supply and a way for merchants to easily get paid without complications, which is harder to do with Zcash or Monero where the amounts are hidden. Disputes could be a problem since it's hard or close to impossible to prove the required amount was paid. It also makes 3rd party tools that just verify transactions easy to create and there's zero risk for the merchant to lose funds. It also allows hundreds of terminals to operate on the same address/group of addresses without requiring a central processing service to manage transactions. Since Zcash and Monero hide transaction data, they require a wallet to be open in order to verify funds are transferred. This adds risk and hassle with multiple registers/locations. In other words, the original Zerocoin implementation, the original design is probably the best way to go when it comes to point-of-sale."

-as quoted by JuicyG ( SmartCash's Outreach Hive Co-ordinator ) @ https://forum.bitcoin.com/post88124.html#p88124

What can be the difference between Traditional Economic Model and SmartCash Economy ?

• SmartCash can potentially provide a safe, private environment for it's User(s) and Merchant(s)to carry out their trades without the need of involving any 3rd party highly advanced intermediaries.

What is being done for Merchant Acquisition ?

As soon as Ground Work for User(s) will be completed, I will bring you more updates on Merchant acquisition.

And this is is just the tip of the iceberg, there is still a lot to explore, about SmartCash. You and I will further look into other possibilities of such an economy to grow and thrive in today's world, in my next blog tomorrow @cryptodate.

Also, anyone who will download SmartCash Wallet, Set it Up and tweets about SmartCash, gets to earn SmartCash. To know more about it one can simply refer to this guide by @hannahlicious : https://steemit.com/cryptocurrency/@hannahlicious/how-to-set-up-your-smartcash-wallet-earn-free-crypto-just-by-tweeting-about-smartcash

For quick mining guide check out @hockleyj : https://steemit.com/smartcash/@hockleyj/smartcash-mining-on-pool-a-visual-guide-on-how-to-set-it-up

There are tons of Smart Secrets this crypto-currency has, hence don't forget to follow @cryptodate for more interesting and informative Crypto-Updates.

If you believe in changing the world around you, then visit and check-out SmartCash's official website :
https://smartcash.cc/

Download SmartCash's Official Wallet :
https://smartcash.cc/get-smartcash/

Join on Slack :
https://smartcashinvite.herokuapp.com/

Buy From an Exchange :
Currently on: https://stocks.exchange, Cryptopia & CoinExchange.io

SmartRewards Guide:
https://steemit.com/smartcash/@cryptodate/smartcash-a-complete-guide-for-smartrewards-setup-what-are-smartrewards-how-does-it-pay-off-how-to-set-up-your-wallet-to-receive

SmartCash's Official Mining Pool :
http://pool.smartcash.cc/

SmartCash's Official Twitter:
https://twitter.com/scashofficial

SmartCash's Official Instagram:
https://www.instagram.com/smartcashcrypto/

SmartCash's Official Facebook:
https://www.facebook.com/smartcashcrypto/

If you find this content useful and informative and would like to Tip SmartCash (Donation Address) :
SPEAK2VyNfGGanUJf1YJm942c29EDKa2Wj

reference : https://smartcash.cc/