Is this crypto idea utopic or just makes no sense? | Hacker News Reader

Is this crypto idea utopic or just makes no sense?

2 pointsuser901313138 comments

Imagine almost all the tax spending is on a "blockchain", not each transaction ofc. Just which deparments gets how often and what amount. Some would need to expain how they spend those amounts and some would be just automated wage payments. I know this can't happen for decades. Point of having it in blockchain is for transparency? and each citizen and company would get a private key and see where the money goes. Unlike whatever we have now

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How does a blockchain make it more transparent than just publishing it on a website?

Why would people need a private key to read the blockchain?

blockchain would make the amount publicly verifiable with priv keys ? like end source would be getting it via blockchain and spending it there. not to their bank account like we do today? not crypto > bank.

private key for reading is for not making it easy to access for other countries? publishing numbers on website does not mean anything? and most utopic part could be you pay the tax via your private key and it'd go to main govern account then you would see how much of that goes to where? I mean point is not trust, verify basically. POS mining could be done by big tax payers and companies or some other way. all not perfect, just and idea

Exists: https://www.usaspending.gov

Trust: you can trust because it’s a .gov.

What else do you want?

By any chance, do you have a pet mouse?

Rats are much better as pets.

lol yea u can trust, I was looking for some smart thing. not this

who checks those numbers? who watches watchmen

And who would check the numbers if they were entered onto a blockchain?

anyone can? there could be next step reward in the org or ins. to double check numbers in blockchain. some type of reward? needs thinking but better than some random data in gov website

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