Alleged Corruption of Chinese Financial Institutions Show How Bitcoin is Better

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Plenty of people around the world have always suspected how the financial world is plagued by corruption and backroom dealings that shouldn’t ever see the light of day. With so much money revolving in this sector, it only makes sense that everyone has their price to be “bought”, but not much has been proven just yet. Over in China, it looks like the country’s financial system might be suffering from a variety of major problems, including corruption.

Also read: Factom Partners With iSoftStone For Chinese Smart Cities Strategy

Financial Trouble Starts With Corruption

If the findings by China’s Communist Party’s Central Commissions for Discipline Inspection [CPCCDI] are to be believed, there are plenty of problems causing the ongoing Chinese economy debacle. Factors are ranging from using data for personal gain to abusing a seat of power, and everything in between. This is the – unfortunately – logical result of putting a handful of people in control of an entire country’s economy.

Such an announcement would never have been made if the CPCCDI did not have plenty of documents to back up their claims. Keeping in mind how various government administrations have been inspected recently, the list of offenses

Read more ... source: NewsBTC USA

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