“Tyranny is when the government knows everything about you. Democracy is when you know everything about your government.”

I was reading comments on some french newspaper article basically saying that Bitcoin adoption in Central African Republic will lead to even more corruption and money laundering from the government.

We all know that this is absolutely not true, and it got me thinking about a very exciting second order effect of Bitcoin nation state adoption.

Basically, it becomes much harder for governments to launder money and be corrupt because of the public nature of the Bitcoin ledger of transactions. Government spending, donations, foreign aid can be tracked on the blockchain.

On the other hand, citizens now enjoy more financial freedom, and can have a good level of pricacy using the Lightning Network.

The government isn't going to be able to track millions of average people's transactions on Lightning. This offers a level of privacy comparable to cash. But millions of people can now have their eyes on their government, who's not going to be able to move millions around unnoticed.

More privacy for the individuals, more transparency for governments. Win-win.

What do you guys think?

submitted by /u/NYKNYb
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